Answer:
529 plan
Step-by-step explanation:
The 529 plan investment account is a type of account used to save for future education purposes and are sponsored by educational institutions and the state. They are of two types, The prepaid tuition plan and the education saving plan. The prepaid tuition plan is used to pay for future tuition fee at present rates while the education saving plan are used to pay for qualified education expenses
Answer:
529 plan
Step-by-step explanation:
A 529 college savings plan works much like a Roth 401(k) or Roth IRAby investing your after-tax contributions in mutual funds, ETFs and other similar investments. Your investment grows on a tax-deferred basis and can be withdrawn tax-free if the money is used to pay for qualified higher education expenses.
