New Edward Jones survey finds awareness of 529 plan flexibility is rising, but understanding remains limited

ST. LOUIS, May 11, 2026 /PRNewswire/ -- As economic uncertainty continues into 2026, American families remain committed to supporting higher education, even though they're increasingly unsure of how they will pay for it. New research from Edward Jones and Morning Consult found that nearly one-third (31%) of adults say recent economic and global events have weakened their confidence in their ability to cover future education costs. The findings highlight a widening gap between families' long‑term education goals and their financial preparedness.

Despite these concerns, saving for a child's education remains a top 3 financial priority for families—ranking behind only retirement (42%) and homeownership (19%).

While 17% of respondents cite it as a top goal, its importance is growing: prioritization of education increased year over year, even as retirement and homeownership declined.

Still, a majority (59%) of adults report they are not saving enough for education, highlighting a growing disparity between intention and preparedness.

Balancing priorities in a challenging environment

This gap is reflected in broader savings expectations.

• More than one-third of parents with young children anticipate saving $25,000 or less for future education
• This is well below projected education costs – suggesting many are underprepared for what's needed

As families weigh the affordability of education, a subset are considering lower-cost pathways. Among all surveyed families:

• 8% are considering community college
• 7% trade schools
• 6% online programs

While the commitment to education remains strong, many are increasingly uncertain about how to reach their financial goals.

Uncertainty around how to move forward

Many families are unsure where to turn for guidance.

• Nearly half (45%) of adults say they don't know what would help them feel more confident about education costs
• Family members remain the top source for education savings decisions (40%), yet it is the only source that has declined over the past three years

Fewer families are turning to traditional sources of financial guidance, even as education planning becomes more complex.

"As a financial advisor, I'm seeing more families eager to save for education, but many aren't sure how to move forward," said Andy Esser, a Durham, NC-based financial advisor at Edward Jones. "529 plans have become more flexible over time, but that flexibility can also create confusion if families don't fully understand how to use them. That's why it's important to work with a financial professional who can help make sense of the options, set clear goals, and build a plan that turns intention into action."

529 plans: awareness rising, understanding lagging

The research also reveals a disconnect in how families understand 529 plans, one of the most widely available and advantageous education savings tools.

• Awareness of expanded 529 plan uses has reached a five-year high (28%)
• Only about one-third (32%) of adults can correctly identify a 529 plan's primary purpose, a five-point drop since 2024
• Only 23% of parents are currently enrolled in a 529 plan

Participation is uneven and skews toward higher-income and more educated households, highlighting potential access or awareness gaps. Even within participating families, approaches can vary. Among families with multiple children:

• Nearly half (46%) maintain separate accounts for each child, suggesting a relatively structured approach to managing finances
• 18% are still determining their approach, indicating lingering uncertainty and an opportunity for clearer guidance

As awareness of 529 plans continues to grow, financial advisors can play a critical role in helping families turn that awareness into action by providing clear guidance, setting realistic savings targets, and aligning strategies with evolving education paths. 

Methodology
This survey was conducted by global data intelligence company Morning Consult among a national sample of 2,184 adults ages 18+ from April 11 – 12, 2026.

About Edward Jones
Edward Jones is a leading financial services firm which operates throughout North America in the U.S. and Canada. The firm's more than 20,000 financial advisors ("FA") serve more than 9 million clients with a total of $2.5 trillion in client assets under care as of December 31, 2025. Edward Jones' purpose is to partner for positive impact to improve the lives of its clients and colleagues, and together, better our communities and society. Through the dedication of the firm's approximately 55,000 associates and our branch presence in 68% of U.S. counties and all Canadian provinces, Edward Jones is committed to helping improve the financial fulfillment for tens of millions of long-term investors across North America by providing comprehensive, personalized planning and professional advice.

About Morning Consult
Morning Consult is a global decision intelligence company changing how modern leaders make smarter, faster, better decisions. The company pairs its proprietary high-frequency data with applied artificial intelligence to better inform decisions on what people think and how they will act. Learn more at morningconsult.com.

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SOURCE Edward Jones