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NC college savings plan assets up 34 percent

Assets in the North Carolina 529 College Savings Plan grew 34 percent in 2010 to $716.8 million, according to College Foundation Inc., which administers the plan.

A year ago, the plan was at $534.8 million.

The number of active accounts also increased 14 percent from 74,706 in December 2009 to 85,516 in December 2010.

Shera Hube, vice president of marketing and savings for College Foundation, said the program’s growth stems from improvements in the economy, an increased understanding of the value of higher education, growing familiarity with the advantages of saving in a 529 plan and positive recognition for the program.

The College Foundation is a free service of the state to help students plan, apply and pay for college.

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