Is There a Prepaid College Savings Plan for You?
See a quick comparison of 14 options to see if there's a plan that suits your needs
By
Kim Clark
Posted September 23, 2009
| Prepaid plans open for new investors | Are out of state investors allowed? | Is there a state tax deduction for contributions? | Kind of guarantee |
|---|---|---|---|
| University of Alaska College Savings Plan ACT Portfolio | Yes | No; Alaska doesn't have a state income tax | Fund assets |
| Florida Prepaid College Plans | No | No; Florida doesn't have a state income tax | State |
| College Illinois! | No | Yes | Legislative |
| Independent 529 Plan | Yes | Yes, in some states | Universities |
| Maryland Prepaid College Trust | Only DC | Yes, up to $2,500/year | Legislative |
| Massachusetts Uplan Prepaid Tuition Program | Yes | No | State |
| Michigan Education Trust | No | Yes | Fund assets |
| Mississippi Prepaid Affordable College Tuition Program | No | Yes | State |
| Nevada Prepaid Tuition Program | Alumni of some Nevada colleges | No; Nevada doesn't have a state income tax | Fund assets |
| Pennsylvania Guaranteed Savings Plan | No | Yes | Fund assets |
| Tennessee Baccalaureate Education System Trust | No | No; Tennessee doesn't have a state income tax | Fund assets |
| Texas Tuition Promise Fund | No | No; Texas doesn't have a state income tax | Universities |
| Virginia Prepaid Education Program | Soldiers stationed in Virginia | Yes, up to $4,000/year | Legislative |
| Washington (state) Guaranteed Education Tuition | No | No; Washington doesn't have a state income tax | State |
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