A $9 Billion Milestone: Indiana529 Reaches New Heights in 2026
INDIANAPOLIS – Indiana State Treasurer Daniel Elliott announced a historic milestone for the state’s education savings program today, revealing that Indiana529 plans have officially surpassed $9 billion in total assets.
As of early 2026, the program boasts more than 463,000 active accounts, a figure the Treasurer says reflects a growing “fiscally responsible mindset” among Hoosier families planning for life after high school. The $9 billion milestone comes as more families look toward non-traditional pathways in addition to four-year degrees. Indiana529 funds are eligible for use at a wide range of institutions, including:
Four-year colleges and universities
Trade and vocational schools
Qualified apprenticeship programs
“Families are looking forward, planning ahead, and making smart choices to prepare for the future,” Treasurer Elliott said in a statement. “Indiana529 continues to earn the trust of Hoosiers who are saving more than ever for education and career pathways.” A major driver for the program’s success remains the aggressive state tax incentives. Indiana residents can claim a state income tax credit worth 20% of their contributions, up to a maximum of $1,500 annually ($750 for those married filing separately).
Under the leadership of Executive Director Marissa Rowe, the program has also focused on accessibility. The barrier to entry remains low, allowing families to open an account with as little as $10.
The program offers several federal and state tax benefits to help savings grow faster:
Tax-Deferred Growth: Ivestment earnings are not subject to federal or state taxes while in the account.
Tax-Free Withdrawals: No taxes are paid on withdrawals when the funds are used for “qualified expenses” like tuition, books, fees, and required equipment.
Resources for Families
The Treasurer’s office is continuing its “Webinar Wednesday” series to help new and existing savers navigate the program. Families interested in starting a plan or learning more about the $1,500 tax credit can visit MyIndiana529.com or indiana529direct.com/
