College Savings Plans Network
The College Savings Plans Network (CSPN) is a national non-profit association and source of information about Section 529 College Savings Plans and Prepaid Tuition Plans—popular, convenient and tax-advantaged ways to save for college.
Founded in 1991, CSPN is an affiliate of the National Association of State Treasurers (NAST) and brings together administrators of 529 savings and prepaid plans from across the country, as well as their private sector partners, to offer convenient tools and information to help families make informed decisions about saving for college. CSPN collects data quarterly on assets in state-administered college savings programs, monitors federal activities and promotes legislation that will positively affect Section 529 plans, and identifies financial opportunities to help families save for higher education.
CSPN provides a valuable networking opportunity for state officials responsible for administering 529 plans to gather and share their unique innovations and experiences in an effort to significantly increase participation in Section 529 plans and in turn, help the youth of this nation attain education goals.
The Network hosts a website that provides comprehensive information about each 529 plan. It includes a college cost calculator and a 529 plan comparison tool that helps families evaluate 529 plans based on criteria such as state tax benefits, fees, investment options and investment manager.
The College Savings Plans Network Executive Board is composed of state officials who have been elected by their peers to serve as the leadership team for the organization. Board members serve for one or two year terms and are elected by the membership. The members are as follows.
Betty Lochner, Chair Director, Washington Guaranteed Education Tuition
Hon. Young Boozer, Vice-Chair Alabama State Treasurer
Mary Morris, Treasurer Chief Executive Officer, Virginia529 College Savings Plan
Hon. Michael L. Fitzgerald, Past Chair Iowa State Treasurer
James DiUlio Director, Wisconsin 529 College Savings Program
Hon. Ron Estes Kansas State Treasurer
Hon. Lynn Fitch Mississippi State Treasurer
Kathleen McGrath Director, PA 529 College Savings Program
Paul Paeglis Executive Director, Ohio Tuition Trust Authority
Hon. John Perdue West Virginia State Treasurer
Patricia Roberts Corporate Affiliate Committee Chair & Managing Director, AllianceBernstein
Hon. Rich Sattgast South Dakota State Treasurer
Lynne Ward Executive Director, Utah Educational Savings Plan
529 plan data is collected by CSPN on a biannual basis and made available to states, policy makers, the media and the general public.
In September 2013, CSPN released its mid-year 529 Report which found record-level growth for college savings plans. The mid-year review analyzes activity from all 529 plans in the country, including 105 savings and prepaid tuition plans.
During the first six months of 2013, total assets and number of open accounts reached $205 billion and 11.43 million, respectively. The total number of 529 accounts continued to increase substantially over the past 18 months, from 10.74 million in December 2011 to 11.43 million as of June 30, 2013. The average 529 account size reached an all-time high of $18,013 as of June 30, 2013, a 10.5% increase over the past twelve months. Including growth from contributions and investment returns, total assets in 529 plans grew by 7.98% since December 31, 2012.
CSPN monitors federal legislative and regulatory activities and promotes legislation that will positively affect Section 529 college savings plans.
- Clark, Kim (January 16, 2014) “Grow a bigger college fund” Money Magazine
- Kadlec, Dan (December 9, 2013) 4 Smartest Money-Making Stocking Stuffers TIME
- Carrns, Ann (May 28, 2013) Incentives to Start a 529 College Savings Plan New York Times
- Woodruff, Mandi (September 12, 2012) “People Are Finally Figuring Out The Simplest Way To Save For College” Business Insider
- Gobel, Reyna (September 5, 2012) “Get a 529 Plan Boost From Your State” U.S. News & World Report
- Block, Sandra (July 16, 2007) “Your Money: Know state taxes before joining a 529 plan” USA Today
- Gobel, Reyna (September 6, 2012) “3 Myths About Prepaid College Tuition Plans Debunked” U.S. News & World Report
1. ^ "CSPN - About CSPN". Retrieved 2008-12-14.