Washington (May 14, 2004) -- Assets in 529 college savings plans jumped nearly 14 percent in the first quarter of 2004, to an estimated $40 billion, according to data released this week by the College Savings Foundation.

At end of the first quarter, 529 plan assets were up 13.9 percent from roughly $35.1 billion at the close of 2003 -- an 87.5 percent increase over the first quarter 2003 total of $21.3 billion.

Estimated net sales (net new contributions) of 529 savings plans for 2004’s first quarter totaled nearly $4.1 billion, up 6.7 percent from $3.8 billion in estimated net sales in 2003’s fourth quarter.

CSF is a nonprofit group that helps build awareness of education savings programs and provides public policy support for 529 plans.

-- WebCPA staff

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