Answer:
A) 529 plan
Explanation:
A 529 plan is a tax-advantaged savings plan that is meant to pay for qualified higher education expenses. There are two types of plans: prepaid tuition plans and savings plans.
A 529 plan can be established by the Garret family in order to pay for their child's college tuition, and the amount that they can save is not limited by the federal government, but some states limit them. The account should not exceed the child's education costs.
The money contributed to the 529 plan is tax deductible.
