State's ScholarShare funds reach $5 billion

Published: Thursday, Apr. 25, 2013 - 12:00 am | Page 6B
Last Modified: Thursday, Apr. 25, 2013 - 7:07 am

State Treasurer Bill Lockyer says California's college-savings plan, ScholarShare, has reached a record $5 billion in assets held by investors.

That's more than double the $2.24 billion held in ScholarShare accounts five years ago. Since 2007, the number of individuals and families opening ScholarShare accounts has grown from 170,600 to more than 243,000, according to Lockyer's office.

ScholarShare and other so-called 529 plans allow anyone to open a tax-advantaged savings plan for a child's future college education.

Call The Bee's Claudia Buck, (916) 321-1968. Read her Personal Finance blog, www.sacbee.com/personalfinanceblog.

© Copyright The Sacramento Bee. All rights reserved.

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