College Savings Plan

Locks in tuition prices at eligible public and private colleges and universities.

No lock on college costs.

All plans cover tuition and mandatory fees only. Some plans allow you to purchase a room & board option or use excess tuition credits for other qualified expenses.

Covers all "qualified higher education expenses," including:
Tuition
Room & board
Mandatory fees
Books, computers (if required)

Most plans set lump sum and installment payments prior to purchase based on age of beneficiary and number of years of college tuition purchased.

Many plans have contribution limits in excess of $200,000.

Many state plans guaranteed or backed by state.

No state guarantee. Most investment options are subject to market risk. Your investment may make no profit or even decline in value.

Most plans have age/grade limit for beneficiary.

No age limits. Open to adults and children.

Most state plans require either owner or beneficiary of plan to be a state resident.

No residency requirement. However, nonresidents may only be able to purchase some plans through financial advisers or brokers.

Most plans have limited enrollment period.

Enrollment open all year.