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Those who choose a college savings plan will be able to withdraw money requisite at the time of payment for college expenses. You will also earn a certain amount of interest on your investment. If you go for a pre-paid tuition plan, then you need to do early payments for the future college expenses. A Prepaid 529 college savings plan is mainly used by those students who choose to attend university in their own state. On the other hand, if you go for private schools outside the state then you may lose some money from the contract.
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