The College Savings Plans Network (CSPN) has reported that U.S. families’ total investments in 529 plans reached $157.4 billion in 2010, as per the biannual 529 Report. The report is based on data aggregated by CSPN from the country’s 104 savings and prepaid tuition programs and examines 529 plan assets, contributions and distributions from Jan. 1, 2010 to Dec. 31, 2010. The 529 plans assets under management increased 11.5% in 2010 net of contributions and distributions. As per the report, the average balance of a 529 plan account in 2010 was $15,492, an 18% increase from 2009.
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