Answered

Discover new information and get your questions answered with IDNLearn.com. Our platform is designed to provide quick and accurate answers to any questions you may have.

Is the following statement true or false?

A 529 savings plan locks in a set tuition price when an individual starts investing.

A. True
B. False

Sagot :

GinnyAnsweridn

Final answer:

529 savings plans do not lock in a set tuition price; they are tax-advantaged investment accounts for education expenses.


Explanation:

False. A 529 savings plan does not lock in a set tuition price when an individual starts investing. Instead, it is a tax-advantaged investment account designed to save for future education expenses.

529 savings plans offer the opportunity to invest and potentially grow funds over time to be used for qualified education expenses, but they do not guarantee a fixed tuition rate.

It's important for individuals to research and understand the specifics of 529 plans to make informed decisions about saving for education costs.


Learn more about 529 savings plans here:

https://brainly.com/question/1508806


Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. Discover the answers you need at IDNLearn.com. Thank you for visiting, and we hope to see you again for more solutions.