Which investment account can be used to save for post-secondary education? traditional IRA, 403 (b), flexible spending account (fsa), 529 plan, or 401 (k)

Question

Mathematics

Lorelei Harrison

28 September, 11:13

Which investment account can be used to save for post-secondary education? traditional IRA, 403 (b), flexible spending account (fsa), 529 plan, or 401 (k)

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Answers (1)

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Aaliyah Avery · Answer 1

529 plan

Step-by-step explanation:

The 529 plan investment account is a type of account used to save for future education purposes and are sponsored by educational institutions and the state. They are of two types, The prepaid tuition plan and the education saving plan. The prepaid tuition plan is used to pay for future tuition fee at present rates while the education saving plan are used to pay for qualified education expenses