Ascensus Surpasses $300 Billion in Total 529 Plan Assets

Milestone underscores Ascensus' leadership in education savings and continued growth in state-sponsored programs

DRESHER, Pa., Jan. 20, 2026 /PRNewswire/ -- Ascensus, the leading independent technology and service platform powering savings plans across America, has surpassed $300 billion* in total 529 assets under administration, serving more than 8.5 million accounts nationwide as of January 12, 2026. As the nation's largest provider of 529 plans, this pivotal landmark reflects continued growth in participation, contributions, and program usage across the 51 529 plans Ascensus administers.

"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, and it feels even more remarkable to achieve this during the 30^th anniversary of the 529," said Peg Creonte, President of Government Savings at Ascensus. "Ascensus extends its deep appreciation to our state partners for their commitment to growing 529 plans and for embracing the technology and tools that are helping families save with greater confidence and convenience."

In 2025, Ascensus-administered 529 programs saw strong momentum, with more than 800,000 new accounts opened and over $25 billion contributed. Families and supporters contributed more than $1.4 billion through Ugift^®, Ascensus' free-to-use gifting platform, while account holders utilized more than $20 billion for qualified education expenses.

Ascensus provides end-to-end administration for state-sponsored 529 college savings plans accounts, supporting program operations, participant servicing, compliance, and technology. The firm's independence from asset managers allows it to partner flexibly with states and investment providers while remaining focused on participant outcomes and program performance. Ascensus supports 51 plans across 31 states and Washington DC.

"Our purpose at Ascensus is to help more savers save more," said Creonte. "Together with our partners, we fulfill that purpose for education savings and demonstrate what's possible when we align around innovation and access. We look forward to continuing this strong collaboration to drive even greater impact in the years ahead."

Originally launched in 1996, 529 education savings accounts allow families and supporters to save for education expenses on a tax-advantaged basis. As college costs continue to rise, these plans remain a critical tool for helping families prepare for future educational needs. Recent legislative changes have expanded flexibility, allowing qualified use of funds for K–12 expenses, student loan repayments, and Roth IRA rollovers, supporting more holistic long-term financial planning. Ascensus' continued growth reflects rising awareness of these programs and sustained engagement from account holders nationwide.

Ascensus delivers comprehensive administration services to 529 plans both as a direct program manager in partnership with sponsoring states and as a trusted platform and plan administration provider to other leading program managers. Through this dual service model, Ascensus offers robust platform capabilities, recordkeeping, and administrative support that help strengthen and scale 529 programs across the country.

In addition to 529 plans, Ascensus also provides program administration for Achieving a Better Life Experience (ABLE) plans and state-facilitated retirement plans. For more information about Ascensus and its government savings programs, visit ascensus.com.

About Ascensus

Ascensus is the leading independent technology and service platform powering savings plans across America, providing products and expertise that help more than 16 million people save for a better today and tomorrow. Ascensus has more than $919 billion in assets under administration and employs more than 5,000 associates as of September 30, 2025.

Ascensus offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate-and bank-owned life insurance solutions, and fiduciary and total rewards services. Sitting at the intersection between savers, program sponsors, investment managers and financial advisors, our platforms, industry knowledge, and data-based insights enhance the growth and success of our partners, clients, and savers through co-branded, private-labeled, and governmental partnerships.

For more information, visit ascensus.com.

*Assets under administration as of 1/12/26.

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SOURCE Ascensus