Best 529 College Savings Plans of 2025
We analyzed fees, investment options, state tax benefits, and flexibility of the top 529 plans to identify the best college savings accounts for families.
5 items ranked · Last reviewed January 2025
Utah My529
The most flexible, lowest-cost 529 plan in America
Utah My529 has held the top spot in Morningstar's 529 rankings for years due to its best-in-class combination of ultra-low fees, exceptional investment flexibility, and nationwide accessibility. Even non-Utah residents should strongly consider opening an account here.
PROS
- ✓Consistently ranked #1 by Morningstar for low fees and flexibility
- ✓Unique customizable investment options — mix Vanguard, Dimensional, and PIMCO funds
- ✓Open to all US residents regardless of state of residence
CONS
- ✕Utah residents get best state tax benefit; non-residents get no UT state deduction
- ✕Custom portfolio building may feel complex for casual investors
New York 529 Direct Plan
Vanguard index funds with a meaningful NY tax break
For New York families, the Direct Plan is a near-perfect combination: Vanguard's rock-bottom index fund fees, a valuable state tax deduction, and a simple interface. The $10,000/$20,000 annual deduction alone can save a family in the 6% NY bracket $600–$1,200 per year.
PROS
- ✓Vanguard index funds with some of the lowest expense ratios in the country
- ✓NY state tax deduction up to $10,000/year ($20,000 for married filers)
- ✓Simple, clean investment options — easy for any investor to understand
CONS
- ✕Non-NY residents get no state tax benefit
- ✕Investment options more limited than Utah My529
Vanguard 529 (Nevada)
Pure Vanguard index funds — the investor's choice
Existing Vanguard investors often choose this plan for the brand familiarity and trusted low-cost index approach. The age-based options automatically de-risk as college approaches, making it an excellent set-it-and-forget-it option.
PROS
- ✓Exclusively Vanguard index funds — trusted by millions of investors
- ✓Nevada plan is open to all US residents
- ✓Simple age-based portfolios make investing automatic
CONS
- ✕No state tax deduction for non-Nevada residents
- ✕Investment options limited to Vanguard funds only
Fidelity 529 (New Hampshire)
Fidelity index funds and zero-fee options
For families already using Fidelity for retirement accounts, consolidating college savings here makes the most sense. Fidelity's ZERO index funds offer genuinely no-fee investing, and the planning tools make it easy to project your savings trajectory.
PROS
- ✓Zero-expense-ratio Fidelity index funds available
- ✓Excellent online tools and calculators for planning
- ✓Integrates seamlessly with existing Fidelity accounts
CONS
- ✕NH plan offers no state tax deduction for non-NH residents
- ✕Some fund options have higher fees than Vanguard equivalents
T. Rowe Price 529 (Alaska/Maryland)
Actively managed funds with strong long-term performance
T. Rowe Price's plan is the strongest choice for investors who believe in active management and want access to the firm's highly regarded growth and equity funds. Maryland families also benefit from a generous state tax deduction.
PROS
- ✓Access to T. Rowe Price's actively managed funds with strong multi-decade track records
- ✓Maryland plan offers state tax deduction to MD residents
- ✓Strong customer service and planning support
CONS
- ✕Higher expense ratios than passive index alternatives
- ✕Active management doesn't always outperform index funds over time