529 college savings plans have attracted $100 billion in 11 million accounts, roughly a quarter of the money parents in the U.S. have set aside for their child’s education. But that’s far short of the hundreds of billions of dollars asset management firms expected them to attract.

And after many of these funds underperformed in the already difficult market of 2008, many 529 administrators have been lowering fees and increasing the conservative options in their plan to make them more appealing.

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