Prepaid Tuition
Every state now has at least one education savings plan that allows families to set aside funds for future college costs. The plans are usually categorized as either prepaid tuition plans or savings plans, although some have elements of both. These educational savings plans are also referred to as Section 529 plans, because they may provide special tax benefits under Section 529 of the Internal Revenue Code. The beneficiary should contact the plan directly for information regarding disbursement.
