Edvest 529 Plan Reaches $6 Billion in Assets

published July 9, 2025

MADISON, Wis. (July 9, 2025) – Wisconsin’s Edvest 529 college savings plan has reached a significant milestone of $6 billion in assets under management, triggering a reduction of the plan’s program management fee to 0.05% (5 basis points), effective July 1, 2025. This lower fee ensures that an even greater share of every dollar saved will go toward future higher education expenses for those saving with the plan.

The Wisconsin Department of Financial Institutions (DFI), administrator of the Edvest 529 college savings plan, secured this fee reduction as part of its contract with Edvest 529’s program manager, TIAA-CREF Tuition Financing, Inc. (TFI), providing for lower fees once certain asset milestones are achieved. With this change, Edvest 529 continues to be among the top five lowest-cost 529 college savings plans in the nation¹, further enhancing its value to college savers.

"Keeping our college savings plans affordable and accessible remains one of our top priorities, and this fee reduction is another way we’re helping families get the most out of their investments," said DFI Financial Capability Director Jessica Wetzel. "With more than $6 billion now invested, Edvest 529 is not only helping families stretch their dollars further, but also reinforcing its status as a competitive, low-cost savings vehicle on the national stage."

The 1-basis-point drop to a 0.05% manager fee is expected to save Edvest 529 account owners a combined total of more than $600,000 per year in fees. The DFI previously negotiated a reduction of Edvest 529's plan manager fee in 2022 from 0.07% to 0.06%.

"Reaching the $6 billion milestone is a testament to families who trust Edvest 529 to help them save for their loved one’s higher education and career training," said DFI Secretary-designee Wendy K. Baumann. "We are thrilled to once again lower fees for our account owners, ensuring that even more of every hard-earned dollar contributed goes directly toward college dreams."

As of June 30, 2025, Edvest 529 managed over 242,000 accounts with over $6.1 billion in assets.

"Edvest 529's remarkable growth demonstrates the confidence Wisconsin families have in this program," said Chris Lynch, President of TIAA-CREF Tuition Financing, Inc. "At TIAA, we are proud to partner with DFI to deliver one of the country’s premier low-cost college savings plans. By reducing our program management fee to just 5 basis points, we're reinforcing our commitment to provide outstanding value to Edvest 529 account owners and encouraging even more families to save for college and career training with confidence."

About Edvest 529

Edvest 529 is Wisconsin’s direct-sold 529 college savings plan, administered by DFI and managed by TIAA-CREF Tuition Financing, Inc. since 2012. For more than 25 years, Edvest 529 has helped families save for higher education expenses. Account owners can choose from 25 investment portfolios, access easy-to-use savings tools, and take advantage of triple tax benefits. Edvest 529 has received numerous accolades, including receiving a top rating by Morningstar Investment Research for the ninth year in a row.

Edvest 529 is a tax-advantaged investment, meaning contributions to an account may qualify for a 2025 Wisconsin state income tax deduction of up to $5,130 per contributor per beneficiary, per year, for single filers or married couples filing a joint return. The plan has no sales charges, enrollment fees, or annual account maintenance fees. In fact, Edvest 529 is the fifth lowest-cost 529 college savings plan in the nation.¹

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In an annual review (10/29/2024) of the largest 529 college savings plans (59 plans representing more than 90% of 529 assets), Morningstar identified 32 plans that stand out above the rest, assigning those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2024. These plans offer a well-researched asset-allocation approach, a robust process for selecting and monitoring underlying investments, a well-resourced and experienced investment team, stable and engaged oversight from the state and low fees. Investors in what Morningstar analysts consider the best 529 plans should be well-positioned for the future. The four key pillars used by Morningstar to evaluate 529 college savings plans include – Process, People, Parent, and Price. For more information about Morningstar’s overview of the Edvest 529 College Savings Plan, go to Morningstar.com. TIAA-CREF Tuition Financing, Inc. compensates Morningstar for the ability to quote these ratings in public communications. Past performance does not predict future results. Source: Morningstar.com. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions.

To learn more about Wisconsin's Edvest 529 College Savings Plan, its investment objectives, risks, charges and expenses see the Plan Description at Edvest.com before investing. Read it carefully. Prior to investing, check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Wisconsin taxpayers can qualify for a 2025 state tax deduction up to $5,130 annually per beneficiary, for single filers or married couples filing a joint return, from contributions made into an Edvest 529 College Savings Plan. Married couples filing separately may each claim a maximum of $2,560. Consult your legal or tax professional for tax advice. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Edvest 529 College Savings Plan.

1. ¹Source: ISS Market Intelligence 529 College Savings Fee Analysis 1Q 2025. Edvest 529’s average annual asset-based fees are 0.15% for all portfolios compared to 0.50% for all 529 plans, 0.86% for advisor-sold plans, and 0.34% for direct-sold plans.↩

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