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529 Plans: As a Way to Save for College, They're Consistently Head of the Class

Of all the investment options designed for college savers, one type offers the best mix of tax benefits and flexible investing options: a 529 plan.

According to the College Savings Plan network, the amount invested in 529 plans reached a new record of $227.1 billion in 2013. With half a million accounts opened in 2013 alone, the number of 529 plan accounts outstanding hit 11.6 million, meaning that the average 529 balance rose to a record $19,584.

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