Top 529 college savings plans in 2022
Morningstar’s annual report on 529 college savings plans is upbeat about the plans, noting that fees continue to decline, while the standards for the individual states’ stewardship of their plans are rising.
Morningstar found that the average plan fee stood at 45 basis points, down slightly from 48 basis points last year.
The report covers 54 plans that hold 93% of the $386 billion in 529 plans as of August.
To make Morningstar’s list of medalists, plans had to outperform and exhibit some combination of the following features: a well-researched asset allocation approach, a robust process for selecting underlying investments, a well-resourced and experienced investment team, stable and engaged state oversight, and low fees.
Just 14 of the 54 plans received Morningstar’s top ratings of gold and silver. Click through to see the top-rated plans.