Prepaid College Savings Plan vs 529 College Savings Plan: Which is Better?

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Long before I started college, I knew I wanted to go and finish debt free. I grew up hearing about how expensive college was and how it could take years and years to pay off the loans depending on where you went to school and how far you wanted to go. The higher the degree, the higher the loan, the longer it takes to pay off. (Pray you get a good paying job after graduation.) Aside from scholarships and pell grants, loans were the only thing I’d heard of as a way to pay for college. So, if I had to get a loan, I was determined to make it as small as possible and pay it off as quickly as possible. After all, what other option is there? Right? If only I knew about prepaid college savings plans and 529 savings plans back then….

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