529 Plan

529 Plan: "529 Plan What does it Mean? A plan that allows for the prepayment of qualified higher education expenses at eligible educational institutions. Also known as a 'qualified tuition program', or more fully as a 'section 529 plan'. Investopedia Says... The prepayment may be in the form of a contribution to an account established specifically for paying higher educational expenses. There is no income restriction for individuals who want to contribute to a 529 plan; however, because contributions cannot exceed the amount that sufficiently covers the expenses of the beneficiary's qualified higher education, individuals should take care not to over-fund the 529 plan. "