Sec. 529 College Savings Plans.

The article focuses on the section 529 college savings plan, which was created by Florida, Michigan, Ohio, and Wyoming in the late 1980s. It states that the section 529, which was applied by several institutions, has an advantage for higher education and individual savings because it provides generous tax. It also states that an individual, a business, and a nonprofit can have an account and avail 529 plan as long as they are U.S. citizen and 18 years of age and above.