A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. These plans are named after Section 529 of the Internal Revenue Code, which allows for tax benefits for account holders. There are two types of 529 plans: prepaid tuition plans and education savings plans https://amazoniansgreencoin.com/ (https://amazoniansgreencoin.com/)
Prepaid tuition plans allow you to purchase tuition credits at today's prices for use at participating colleges in the future. These plans are typically state-sponsored and may have residency requirements. Education savings plans, on the other hand, are investment accounts that can be used to pay for qualified education expenses at any eligible institution nationwide.