Edvest 529 Plan Reaches $7 Billion in Assets

published June 3, 2026

MADISON, Wis. (June 3, 2026) - Wisconsin's Edvest 529 college savings plan has achieved a major milestone in reaching $7 billion in assets under management. The growth has prompted another reduction in the plan's plan manager fee to just 0.04% (4 basis points). Effective June 1, 2026, all existing Edvest 529 account owners will benefit from this lower fee, allowing more of their savings to be directed toward future education expenses.

This one-basis-point decrease in the plan manager fee is projected to save account owners more than $700,000 annually in combined fees and comes in quick succession to the previous plan's plan manager fee reduction of 0.01% in June 2025 when the plan hit $6 billion in assets.

"The rapid growth of Edvest 529, reaching $7 billion in less than a year after the previous milestone, underscores the confidence Wisconsin families place in the plan," said Wisconsin Department of Financial Institutions Secretary-designee Wendy K. Baumann. "This growth allows us to deliver meaningful savings back to our account owners through lower fees, so more of each contribution can be invested for a child's future. Making it easier and more cost-effective for families to save for education is central to our mission, and this fee reduction reflects that commitment."

The Wisconsin Department of Financial Institutions, administrator of the Edvest 529 college savings plan, negotiated this fee reduction as part of its contract with Edvest 529's plan manager, TIAA-CREF Tuition Financing, Inc. (TFI), which includes built-in fee reductions as specific asset thresholds are reached. Edvest 529 now ranks among the top 5% lowest cost 529 plans nationwide¹, strengthening its value for families saving for college.

"We have been honored to work alongside the Wisconsin Department of Financial Institutions for over 13 years, and continue to partner on offering one of the nation's most competitive, low‑cost college savings options," said TFI President Chris Lynch. "Lowering the program management fee to 4 basis points reinforces our long‑standing commitment to delivering exceptional value for account owners and supporting more families as they plan and save for education."

About Edvest 529

For more than 25 years, Edvest 529 – Wisconsin's direct-sold 529 college savings plan – has been helping families save for education expenses. Account owners can choose from 25 investment portfolios, access easy-to-use savings tools, and take advantage of unique tax benefits, including a 2026 state income tax deduction on contributions made to an Edvest 529 account for Wisconsin taxpayers, up to $5,280 per beneficiary for single filers or married couples filing jointly, or up to $2,640 for married couples filing separately. The plan has no sales charges, enrollment fees, or annual account maintenance fees.

Edvest 529 offers families a flexible and convenient way to save for a broad range of qualified education expenses, including college tuition, technical and trade schools, certified apprenticeships, recognized credentialing programs, K–12 expenses, and student loan repayment.² Accounts can be opened online in about 10 minutes, making it easy for families to take the first step toward their education savings goals.

New accounts opened by June 5, 2026 with recurring contributions of $25 or more until September 30, 2026, can receive a special $50 deposit that aims to help parents, grandparents, and loved ones start and continue saving for a child's future education and career training expenses. To learn more about the summer savings bonus promotion, including terms and conditions, visit Edvest.com/Summer26.

Want more details?

For additional information on Edvest 529, including investment options, fees, and frequently asked questions, visit Edvest.com, or follow Edvest 529 on Facebook, Instagram and YouTube.

Watch our video "What is the best option for college savings"—part of the College Savings Connection series—to learn more about how a 529 plan works and how it can benefit your family.

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Footnotes

1. 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. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice. 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. 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. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, is the distributor and underwriter for Wisconsin's Edvest 529 College Savings Plan.
2. ¹Source: ISS Market Intelligence 529 College Savings Fee Analysis 2Q 2026. Edvest 529's average annual asset-based fees are 0.13% for all portfolios compared to 0.47% for all 529 plans, 0.83% for advisor-sold plans, and 0.32% for direct-sold plans.↩
3. ²K-12 (primary or secondary school) withdrawals are limited to $20,000 per year for K–12 qualified expenses. Apprenticeship programs must be registered and certified with the U.S. Secretary of Labor under the National Apprenticeship Act. Student loan repayment subject to a lifetime limit of $10,000 per individual when using a 529 plan. Withdrawals for Recognized Postsecondary Credentialing Programs—including tuition, books, equipment, supplies for the enrollment or attendance, testing fees if required to obtain or maintain a Recognized Postsecondary Credential, fees for continuing education if required to maintain an RP Credential and therapies for students with disabilities—are exempt from federal and Wisconsin income tax. If you are not a Wisconsin taxpayer, these withdrawals may include recapture of tax deduction, state income tax, as well as penalties. Consult a tax professional for guidance.↩

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