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Americans have just $21,000 saved for college in the average 529 account, according to a new report from Ascensus Inc., which is a recordkeeper and administrator of more than 3.3 million 529 plan accounts.

The company, which administers about a quarter of all 529 accounts in the United States, found that more than 80% of its accounts had balances below $30,000 as of January 26 of this year. Accounts with less than $10,000 were about 55% of the total. Fewer than 4% had at least $100,000 in them.

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Tina Orem

 

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