The College Savings Plans Network' 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 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.
Executive Board
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. Officers: Hon. Michael Frerichs, Chair, Illinois State Treasurer Rachel Biar, Vice-Chair, Assistant State Treasurer, Nebraska Anita Kelley, Treasurer Director – College Savings Plans, Alabama State Treasury James DiUlio, Past Chair Director, Wisconsin 529 College Savings Program Hon. Duane Davidson Washington State Treasurer Richard Ellis Executive Director, my529 Hon. Josh Haeder South Dakota State Treasurer Hon. Curtis Loftis South Carolina State Treasurer Chris Lynch NAST Corporate Affiliate Advisory Board Liaison Mary Morris Chief Executive Officer, Virginia529 Lael Oldmixon Executive Director, Education Trust of Alaska Hon. Tobias Read Oregon State Treasurer Mitch Seabaugh Executive Director, Path2College 529 Plan Shirley Yang CSPN Corporate Affiliate Committee Chair
Data
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 2019, CSPN released its mid-year data which found record-level growth for college savings plans. The review analyzed activity from all 529 plans in the country. The report found that total investment by American families in 529 plans has reached a record level of $352.4 billion. In the first six months of 2019, total assets in 529 plans grew by $41.2 billion. The report also noted that the average 529 account size continues to grow, reaching an all-time high of $25,128 as of June 30, 2019, nearly doubling the average account size from a decade ago. This indicates a continued commitment by American families to save for the cost of a college education.
Legislation
CSPN monitors federal legislative and regulatory activities and promotes legislation that will positively affect Section 529 college savings plans.
