Roadmap to Education Savings at Scale
Strategic Opportunities for 529 Accounts
529 college savings plans are tax-advantaged education savings accounts that can help families build educational wealth, support long-term financial security, and create pathways toward generational wealth-building. While millions of Americans use 529 accounts to save for future education expenses, many families—especially households living on low and moderate incomes—still face barriers in awareness, access, and usability.
Commonwealth’s latest roadmap, developed through the Benefits for the Future initiative supported by JPMorganChase, explores practical, research-backed strategies to expand 529 engagement and education savings access at scale.
This report focuses on how states, employers, financial institutions, policymakers, and benefits leaders can strengthen the reach and effectiveness of 529 plans through intentional design, strategic partnerships, and real-world implementation strategies.
Grounded in behavioral research and pilot testing, the roadmap highlights actionable opportunities across three key areas:
- Employer engagement through workplace benefits, payroll integration, employer matching strategies, and financial wellness initiatives
- Policy innovation that expands flexibility, incentives, and equitable access to education savings opportunities
- Saver support strategies that improve understanding, trust, and long-term participation through clear guidance, human-centered design, and personalized financial support tools
The roadmap also explores emerging opportunities related to:
- Generational wealth-building
- Workplace financial benefits
- Education savings policy
- Financial wellness and long-term investing
- AI-powered financial guidance
- Emergency savings integration
- State-level innovation and public-private partnerships
The report includes insights from Commonwealth research, national surveys, employer partnerships, and real-world pilots focused on improving financial outcomes for working families living on low and moderate incomes.
Whether you are a state treasurer’s office, employer, policymaker, benefits leader, researcher, financial institution, or philanthropic organization, this roadmap provides practical insights and scalable approaches for expanding access to education savings and strengthening long-term financial security.
Download the full report to explore how 529 plans can become more accessible, understandable, and effective tools for helping families save, invest, and build wealth over time.
