Kansas Treasurer Tim Shallenburger said today that he has increased the contribution limit for the state’s 529 college savings plan by more than $100,000.

Officials said they increased the total amount that families could contribute to the college savings vehicle because the costs of higher education are rising by at least 5% each year. Families need to be able to save more to meet those rising costs, said Doug Lockwood, VP of shareholder education at American Century.

Kansas’ 529 plan, which is available nationally, has garnered more than $100 million since it was founded a year and a half ago.

The limit on plan, which is overseen by American Century Investment Management, was increased from $127,000 to $235,000, according to a statement released by American Century.

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