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What is the difference between a prepaid tuition plan a college savings plan?
Wiki User
∙ 10y ago
one covers all college expenses, while the other covers only tuition
Wiki User
∙ 10y ago
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What is the difference between bpi savings bank and bpi family savings bank?
no difference, they are one and the same
What is the difference between financial savings and physical savings?
Financial savings is when you put money in the bank and it gains interest over time.Phyisical savings is when you invest in stock and it grows over time like Finacnial savings.
What is the difference between the bpi family bank and the bpi family savings bank?
No difference -- they are one and the same business entity. BPI Family Savings Bank, a savings/thrift bank, is a wholly-owned subsidiary of Bank of the Philippine Islands (BPI), a commercial bank.
Distinquish between savings and financial surplus?
This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure
What is the difference between bpi direct and bpi family savings account?
The BPI Family Savings has more features available than the BPI Direct Savings. The Direct can be applied for from anywhere in the world, whereas the Family Savings is meant more for people who live within a branch district.
A 529 prepaid tuition plan and a 529 college savings plan can be applied to all of the following except?
Elementary and secondary schools
What is the difference between bpi savings bank and bpi family savings bank?
no difference, they are one and the same
12 Questions About Prepaid Savings Plans?
College tuition can be burdensome if you do not prepare for it beforehand. It takes careful planning to minimize the cost of college education and truly it is but wise to start saving for this purpose early in your life. You can accomplish this important goal through prepaid savings plan for your college tuition. So, how can this be achieved? Unknown to many high school students and low-income families, there are prepaid tuition plans available for them to participate in. These plans or programs are also called Prepaid Education Arrangements (PEAs) and the way they work is that families can purchase public in-state education at current prices for their sons and daughters who plan to pursue their college education. This is advantageous for families and students because college tuition inflation will not affect their pre-purchased education. How many types of prepaid savings plan are there? There are two plans available for aspiring college students and their families or sponsors: a units plan and a contract plan. With a units plan, you can buy portion of your tuition units, which are usually measured in credit and semester hours. A contract plan is more flexible than a units plan because it allows you to purchase tuition contracts for one year and all the way up to five years. Both plans can be paid in installments or in a lump sum. What are the beneficial advantages of prepaid savings plans? State governments assured purchasers of prepaid savings plans that they will match any increase in in-state tuition amount at any given year. Upon knowing which college you will attend, you may start your safe investment in prepaid savings plan. Realize that these plans for the most part outmatch the interest compounded in your savings or CD accounts so they are indeed the best choice in preparing your loved one for college. What are the drawbacks of prepaid savings plans? There are a few drawbacks, however, with prepaid savings plans. First, these plans are limited to state residents so they restrict your choices of college or university to attend. Prepaid savings plans cannot be transferred or used if you decide to enroll in a private or out-of-state college or university and some plans basically cover your tuition cost only, not your board and lodging, or even your books. Once you start paying for your prepaid savings plan, requesting a refund or cancellation is imprudent because it can result in stiff penalty and also of loss of interest. Now that you know the pros and cons of prepaid savings plan, evaluate your situation and make an informed decision about your educational future. It’s not too early to plan for your college education. Your decision today will surely enhance your life’s outlook so make your choice and don’t delay any further. Source: http://www.collegeboard.com/parents/pay/scholarships-aid/21391.html
What's one difference between a checking account and a savings account?
savings account earns interest.
What is the difference between gross and net interest in your savings?
what is your dads name
Saving For College With Section 529 Plans?
A Section 529 plan is designed to encourage saving for future higher education expenses. There are two common types of 529 plans � savings and prepaid. The most common, savings plans generally invest funds in a variety of investment assets which become more conservative as the student reaches college age. Only states may administer savings plans. On the other hand, prepaid plans allow parents to lock in today�s tuition rate by purchasing tuition credits to be used in the future. Prepaid plans may be administered by either states or the educational institution themselves.
What is the difference between bpi family bank and bpi family savings bank?
no difference, they are one and the same
What is the primary difference between a business and a personal savings account?
A business savings account his connected to a business. While a personal savings account is connected to an indvidual.
What is the difference between financial savings and physical savings?
Financial savings is when you put money in the bank and it gains interest over time.Phyisical savings is when you invest in stock and it grows over time like Finacnial savings.
Where are the headquarters of College Savings Bank?
The College Savings Bank headquarters are located in Princeton, New Jersey. The College Savings Bank offers a range of investment, plans and savings options.
What is the difference between savings bond and scholarship?
a savings bond is more like purple stuff and a scholarship is more like stuff of purpleness
What is the difference between saving and savings?
Saving is puting money or goods away for future use, savings are the goods or money that have been collected.
