Saving for College and Section 529 Plans, Accessible Data
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Figure 1: Plan assets: 529 plans (2015:Q2)
Source: Enhanced Financial Accounts
| State | Plan assets (billions) |
|---|---|
| AK | 6.837 |
| AL | 1.4008 |
| AR | 0.6031 |
| AZ | 1.0237 |
| CA | 6.4253 |
| CO | 6.3193 |
| CT | 2.7554 |
| DC | 0.4008 |
| DE | 0.6333 |
| FL | 11.0169 |
| GA | 1.8475 |
| HI | 0.0696 |
| IA | 4.3635 |
| ID | 0.334 |
| IL | 8.6307 |
| IN | 3.1529 |
| KS | 4.8616 |
| KY | 0.2824 |
| LA | 0.6294 |
| MA | 5.1042 |
| MD | 5.183 |
| ME | 8.4992 |
| MI | 5.6358 |
| MN | 1.197 |
| MO | 2.5577 |
| MS | 0.5069 |
| MT | 0.233 |
| NC | 1.6895 |
| ND | 0.3947 |
| NE | 3.9008 |
| NH | 14.615 |
| NJ | 4.7128 |
| NM | 2.3649 |
| NV | 16.0827 |
| NY | 21.1715 |
| OH | 9.5822 |
| OK | 0.8008 |
| OR | 2.421 |
| PA | 3.623 |
| RI | 7.4171 |
| SC | 2.4738 |
| SD | 1.1641 |
| TN | 0.1125 |
| TX | 2.1308 |
| UT | 8.3568 |
| VA | 55.4458 |
| VT | 0.27 |
| WA | 2.6641 |
| WI | 3.9423 |
| WV | 2.332 |
| WY | 0 |
Figure 2: Financing education, by source and academic year (billion $)
Source: CSPN website from 2008 to 2014, Trends in Student Aid publication.
| Academic Year | Grants (billion $) | Loans (billion $) | 529 Plans (billion $) |
|---|---|---|---|
| 2002-03 | 60 | 66 | 3 |
| 2003-04 | 64 | 77 | 3 |
| 2004-05 | 68 | 86 | 4 |
| 2005-06 | 69 | 91 | 4 |
| 2006-07 | 72 | 95 | 5 |
| 2007-08 | 77 | 103 | 6 |
| 2008-09 | 82 | 105 | 7 |
| 2009-10 | 106 | 118 | 9 |
| 2010-11 | 118 | 122 | 11 |
| 2011-12 | 116 | 119 | 13 |
| 2012-13 | 118 | 115 | 14 |
| 2013-14 | 123 | 106 | 16 |
Figure 3: 529 plan assets relative to student debt (billion $)
Source: For student loans, Federal Reserve Bank of New York Consumer Credit Panel/Equifax. For savings and prepaid plans, Morningstar.
| Savings plans (left axis) | Prepaid plans (left axis) | Student debt (right axis) | |
|---|---|---|---|
| 2003 | 35 | 11 | 253 |
| 2004 | 52 | 12 | 346 |
| 2005 | 69 | 14 | 392 |
| 2006 | 90 | 16 | 482 |
| 2007 | 113 | 17 | 548 |
| 2008 | 89 | 16 | 639 |
| 2009 | 117 | 17 | 721 |
| 2010 | 139 | 19 | 812 |
| 2011 | 145 | 21 | 874 |
| 2012 | 169 | 23 | 966 |
| 2013 | 204 | 23 | 1,080 |
| 2014 | 224 | 24 | 1,157 |
| 2015Q2 | 234 | 24 | 1,190 |
Figure 5: Expense ratios: 529 college savings plans (2014)
Source: Morningstar
| State | Expense ratios |
|---|---|
| AK | 1.15% |
| AL | 0.86% |
| AR | 0.67% |
| AZ | 0.86% |
| CA | 0.27% |
| CO | 0.78% |
| CT | 0.89% |
| DC | 1.11% |
| DE | 0.74% |
| FL | 0.67% |
| GA | 0.30% |
| HI | 0.75% |
| IA | 1.07% |
| ID | 0.76% |
| IL | 0.80% |
| IN | 0.80% |
| KS | 1.03% |
| KY | 0.57% |
| LA | 0.00% |
| MA | 0.69% |
| MD | 0.73% |
| ME | 1.03% |
| MI | 0.88% |
| MN | 0.26% |
| MO | 0.79% |
| MS | 0.59% |
| MT | 0.88% |
| NC | 0.36% |
| ND | 0.85% |
| NE | 0.83% |
| NH | 1.02% |
| NJ | 1.08% |
| NM | 0.92% |
| NV | 0.72% |
| NY | 0.75% |
| OH | 0.77% |
| OK | 1.00% |
| OR | 0.90% |
| PA | 0.39% |
| RI | 0.79% |
| SC | 0.66% |
| SD | 1.62% |
| TN | 0.43% |
| TX | 1.18% |
| UT | 0.21% |
| VA | 0.68% |
| VT | 0.48% |
| WI | 0.67% |
| WV | 0.80% |
Figure 6: Portfolio alphas: 529 college savings plans (2014)
Source: Morningstar
| State | Portfolio alphas |
|---|---|
| AK | 0.08% |
| AL | 0.03% |
| AR | 0.03% |
| AZ | 0.21% |
| CA | 0.91% |
| CO | 0.81% |
| CT | -0.50% |
| DC | 0.99% |
| DE | 0.35% |
| FL | 0.71% |
| GA | 0.10% |
| HI | 0.82% |
| IA | 0.46% |
| ID | -0.58% |
| IL | 0.47% |
| IN | 0.38% |
| KS | 0.09% |
| KY | -0.34% |
| LA | 0.00% |
| MA | 0.38% |
| MD | 0.32% |
| ME | 0.08% |
| MI | -0.95% |
| MN | -0.37% |
| MO | 0.82% |
| MS | -0.62% |
| MT | 0.55% |
| NC | 0.84% |
| ND | -0.01% |
| NE | 0.89% |
| NH | 0.12% |
| NJ | 0.09% |
| NM | 1.01% |
| NV | 0.52% |
| NY | 0.62% |
| OH | 0.60% |
| OK | -0.71% |
| OR | -0.18% |
| PA | 0.40% |
| RI | -1.18% |
| SC | 0.65% |
| SD | -1.01% |
| TN | 0.00% |
| TX | -0.43% |
| UT | 0.74% |
| VA | 1.11% |
| VT | 0.36% |
| WI | 0.00% |
| WV | -0.31% |