How To Help Your Child Graduate College Without Debt

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Pre-paying for college

The 529 plan can also be used to pay for college tuition in an unexpected way. “There are two types of [529] plans: savings and prepaid tuition accounts,” explains Lewis. “A prepaid plan allows the parent to prepay for their child’s college tuition in advance at select colleges and universities.” The prepaid plan, like the savings plan, is tax-advantaged.

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