529 accounts, also called qualified tuition plans or college savings plans, are a great way to save for college. (yourrichestlifeplanning.com)
However, qualified tuition plan earnings distributed for ineligible expenses could incur a 10 percent penalty in addition to income tax on the distribution. (hrblock.com)
Section 529 Plans are also known as Qualified Tuition Plans. (ufcu.pfyfn.com)