529 savings plans do not lock in a set tuition price; they are tax-advantaged investment accounts for education expenses.
False. A 529 savings plan does not lock in a set tuition price when an individual starts investing. Instead, it is a tax-advantaged investment account designed to save for future education expenses.
529 savings plans offer the opportunity to invest and potentially grow funds over time to be used for qualified education expenses, but they do not guarantee a fixed tuition rate.
It's important for individuals to research and understand the specifics of 529 plans to make informed decisions about saving for education costs.
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