Virginia college savings plan tops $50B

RICHMOND, Va. (AP) – Virginia’s prepaid college tuition program has reached a milestone with more than $50 billion in assets under management.

The Virginia529 College Savings Plan said Wednesday that the figure represents the college savings of 1.4 million account owners.

According to the College Savings Plans Network, U.S. investors had accumulated more than $227 billion in prepaid tuition plans by the end of 2013. Virginia’s programs are the largest, making up more than one-fifth of the national total. Plans operated by New York are a distant second at $17 billion.

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