529 Plan Jeopardy Template

100 What is a 529 Plan? An education savings	100 What is one disadvantage to a savings plan? Limited investment options, high expense and sale charges
200 What is another name for a 529 Plan? Qualified Tuition Program	200 What is one advantage to a prepaid plan Low impact on financial aid, future tuition rates are locked in, return is larger than savings account returns, low risk
300 What are the two types of plans? Savings Plan and Prepaid Plan	300 What is one disadvantage to a prepaid plan? Investments may not equal full cost, limited enrollment period, possible penalties, does not include room and board, time limit
400 What is one 529 plan benefit? Special tax benefits, donor has control of funds, low maintenance plan, simplified taz reporting, flexible, substantial deposits are allowed	400 What is one thing you should not do when paying for your child's college? Use retirement savings
500 What is one advantage to a savings plan? Low impact on financial aid, no restrictions to choice of college, no deadline for use of funds	500 What is one thing you should do to save for your child's college? Start saving early, set aside small amounts each moth