1. 529 Savings Plans
... of plan? There are two types of 529 plans: prepaid tuition plans and college savings plans. Prepaid tuition plans allow parents to prepay future tuition and fees at today's cost. College savings plans allow parents to begin saving for higher education expenses for any eligible institution. Generally ... attend college. Qualified family members include siblings, first cousins, spouses, and self. Furthermore, funds may be transferred from one investment option to another once per year for the same beneficiary, or at any time upon a change of beneficiary. (Source) If the individual reaches...
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- Grade Level: High School