The Best Laid Plans
Posted by admin
Anyone opening a 529 accounts for college savings should know that there are two different versions of these plans. If you choose to select the option of getting a prepaid plan, then you can pay in advance for either all or some of the cost of getting schooling in your state, and they may perhaps be able to serve out-of-state institutions as well, plus private colleges and universities. Choosing a savings plan means that the account holder places money into an account which will be invested in mutual funds, etc. This plan has the look of retirement accounts and the like. If you’re opening an account with a school of choice, it can only be prepaid, outside of the Independent 529 (a private college plan).