A plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. In , K public, private, and religious school tuition were included as qualified expenses for plans along with post-secondary education costs with passage of the Tax Cuts and Jobs Act. There are two types of plans—college savings plans and prepaid tuition game-overdrive.com college savings version allows earnings to grow tax-deferred and withdrawals are tax-free when used for qualified education expenses. Use this chart to compare features of various college savings options.
Learn More about Our Promise to You. I'm saving for who is. People have different approaches to saving for education. The most important step is simply getting started. You know that college is important. You also know it can be expensive. How much do you need to save?