The average balance of 529 savings accounts in the United States decreased among all age groups in 2023. Savers aged 45 to 54 years, who have had a longer time horizon to save than younger people and may have children approaching college age, had the highest overall average balance at approximately 38,270 U.S. dollars.
A 529 savings plan is a tax-advantaged savings account designed to encourage households to save for future higher education expenses.
Average balance of 529 college savings accounts in the United States 2020 to 2023, by age
(in U.S. dollars)
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Ascensus. (March 1, 2024). Average balance of 529 college savings accounts in the United States 2020 to 2023, by age (in U.S. dollars) [Graph]. In Statista. Retrieved November 09, 2024, from https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/
Ascensus. "Average balance of 529 college savings accounts in the United States 2020 to 2023, by age (in U.S. dollars)." Chart. March 1, 2024. Statista. Accessed November 09, 2024. https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/
Ascensus. (2024). Average balance of 529 college savings accounts in the United States 2020 to 2023, by age (in U.S. dollars). Statista. Statista Inc.. Accessed: November 09, 2024. https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/
Ascensus. "Average Balance of 529 College Savings Accounts in The United States 2020 to 2023, by Age (in U.S. Dollars)." Statista, Statista Inc., 1 Mar 2024, https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/
Ascensus, Average balance of 529 college savings accounts in the United States 2020 to 2023, by age (in U.S. dollars) Statista, https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/ (last visited November 09, 2024)
Average balance of 529 college savings accounts in the United States 2020 to 2023, by age (in U.S. dollars) [Graph], Ascensus, March 1, 2024. [Online]. Available: https://www.statista.com/statistics/1233249/529-savings-average-account-balance-by-age-usa/
