529 prepaid tuition plan

Definition

A type of tax exempt investment account that is specifically set up to save for college tuition and other related costs.

Use this term in a sentence

You may want to try and get a 529 prepaid tuition plan that may save you a lot of money in the long term.

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Since they had three kids that would be going to college, they decided to save early and open a 529 prepaid tuition plan account.

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After my mother died, my brother and I agreed that we would take our inheritance and jointly place it into a 529 prepaid tuition plan for each of our children.

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