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Prepaid tuition plans are a type of 529 plan that allows you to set aside money now for your child’s college education. Prepaid plans allow parents to prepay tuition at current tuition costs ...
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
When selecting a 529 plan, you can choose between an education savings plan and a prepaid tuition plan. The best option depends on several factors, including your financial needs and preferences ...
A 529 plan comes in two broad varieties — a prepaid tuition plan and an education savings plan: A prepaid tuition program allows you to purchase college credits at today’s prices for future use.
Virginia529 (VA 529) or Virginia529 College Savings Plan is the independent state agency responsible for Section 529 qualified tuition programs offered by the Commonwealth of Virginia. [1] Since 2018, Morningstar has named Virginia's Invest529 plan among the top 529 college savings plans in its annual analysis.
In addition to the wide range of 529 college savings plans based on tax exempt status, there's an option commonly called "prepaid tuition," which often receives a "529" designation and presents an ...
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