Which of the following is a characteristic of the college savings plan?

Question

Which of the following is a characteristic of the college savings plan?

A. It is administered only by states.
B. There is an age limit.
C. There is a limited enrolment period.
D. It is not available in every state.

Answer

Answer: it is administered only by states (option A)

The college savings plan is a tax advantage savings and investment to fund the college plan. By putting money in the college savings plan, your contributions or the money that you put in are all after tax. Then, wherever you go to pull that money out all the interest in the earnings that have accumulated from your contributions are completely tax free as long as you use those towards the college education and it is administered only by states

Leave a Comment