Participation in section 529 college savings programs should increase, according to a survey conducted for American Century Investments by Elrick & Lavidge. Though currently about 6% of eligible parents take part in 529 programs, 39% of the 500 parents surveyed said they were likely to participate in a 529 plan in the future. That is up from 31% who said they would participate when the survey was done last year.
Awareness of 529 plans also grew. In this years survey, 37% of parents said they were aware of savings plans, up from 24% in 2000, the surveys first year. "With continued investor education, we believe that these numbers will continue to grow as parents come to understand the benefits of these programs," said Doug Lockwood, VP of shareholder education at American Century, in a statement.