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College Savings On The Rise As Plans Average $20k

The good news is that Americans are saving more than ever for college. The bad news is that the average amount wouldn’t come close to getting a person a degree.

In a report released Tuesday, the College Savings Plans Network found that the average college savings or prepaid tuition account known as a “529″ plan is now worth about $20,671 — almost double what these accounts were worth during the dog-days of the recession.