What Section 529 Plans Are Administered By What Institution

Whenever you are talking about Section 529 Plans, there are two different types. There are the prepaid plans and the saving plans. The prepaid plans can be administered by states or higher education institutions. However, the saving plans can only be administered by the states. This is information you  are going to have to remember whenever you are setting up one of these accounts. It is always a good idea to know who can set up what kind of account. This is not such a big deal when you are setting up the prepaid plans, however, it can be a bigger problem when you are setting up the saving plans.