CHARLESTON, WV (WOAY)- West Virginia State Treasurer John Perdue announced today that SMART529, the state’s officially sanctioned college savings plan, has reached $3 billion in total assets under management. The mark represents a continuation of growth since the plan’s 2002 inception.
“Today is an exciting day,” Treasurer Perdue said. “I am proud of what my staff and I have accomplished over the years with the SMART529 college savings program. I continue to encourage parents and grandparents to take advantage of all SMART529 has to offer.”
Previous milestones included reaching the $1 billion mark in 2007 and $2 billion in 2014.
“I started the SMART529 program in 2002 because I wanted to give every child in West Virginia a chance to create a better future for themselves and for our state. Providing our children the means to get a solid education benefits us all in the long run,” Perdue said.
Last Tuesday (Dec. 29, 2020) Perdue held a Facebook Live event to announce the plan was on track to surpass the $3 billion mark (watch the Facebook Live HERE). During the live event, he also announced the upcoming 14th annual SMART529 “When I Grow Up” essay contest for elementary school students in the state.
Savingforcollege.com gives West Virginia’s SMART529 WV Direct plan a “5 Cap” rating for both in-state and out-of-state residents, which is its highest ranking. West Virginia residents hold about $670 million of the $3 billion invested. While SMART529 is based in West Virginia, residents from other states may also establish accounts.