DRESHER, PA — Ascensus has crossed a major milestone in the race to help families pay for education, surpassing $300 billion in total 529 assets under administration and cementing its position as the nation’s largest provider of 529 college savings plans.
As of January 12, 2026, Ascensus administered more than $300 billion across 51 state-sponsored 529 plans, serving over 8.5 million accounts nationwide. The benchmark comes as participation and contributions accelerate amid rising college costs and expanding flexibility in how 529 funds can be used.
Company leaders said the milestone reflects growing trust from states and families during a pivotal year for the program itself. The 529 savings vehicle marked its 30th anniversary in 2025.
“Reaching this milestone is a reflection of the trust that states, families, and partners place in Ascensus to operate these programs reliably and at scale,” said Peg Creonte, president of government savings at Ascensus. She called the timing especially meaningful as lawmakers and families reassess long-term education planning.
Momentum surged in 2025. Ascensus-administered plans added more than 800,000 new accounts last year, with contributions topping $25 billion. Families and supporters also directed more than $1.4 billion through Ugift, the firm’s gifting platform, while account holders used over $20 billion to cover qualified education expenses.
Ascensus provides end-to-end administration for state-sponsored 529 plans, handling operations, participant servicing, compliance, and technology. Its independence from asset managers allows it to partner with states and investment providers while focusing on program performance and participant outcomes. The firm supports plans across 31 states and Washington, D.C.
The growth comes as recent legislative changes have broadened the appeal of 529 plans. Once limited largely to college tuition, the accounts can now be used for K–12 expenses, student loan repayments, and, in some cases, rollovers into Roth IRAs, expanding their role in long-term financial planning.
“Our purpose at Ascensus is to help more savers save more,” Creonte said, pointing to innovation and access as key drivers behind the company’s expansion.
Beyond 529 plans, Ascensus also administers Achieving a Better Life Experience plans and state-facilitated retirement programs, positioning the firm at the center of a growing push to strengthen household savings nationwide.
With assets continuing to climb and awareness of 529 flexibility rising, Ascensus said it expects demand for education savings programs to remain strong in the years ahead.
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