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529 plan
(redirected from 529Plan)

    Also found in: Wikipedia 0.06 sec.
529 Plan
A plan that allows for the prepayment of qualified higher education expenses at eligible educational institutions. Also known as a "qualified tuition program."

Notes:
The prepayment may be in the form of a contribution to an account established specifically for paying higher educational expenses. There is no income restriction for individuals who want to contribute to a 529 plan however, because contributions cannot exceed the amount that sufficiently covers the expenses of the beneficiary's qualified higher education, individuals should take care not to over-fund the 529 plan.

529 plan
See college-savings plan.
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