Prepaid tuition plans are offered by 11 states, with an additional 11 states closed to new investment:
There is also a prepaid tuition plan offered by several hundred private colleges, the Private College 529 Plan. It was previously known as the Independent 529 plan.
Of the open prepaid tuition plans, only four — Florida, Massachusetts, Mississippi and Washington — are backed by the full faith and credit of the state. The new Texas prepaid tuition plan is guaranteed by the state’s public colleges. Three states — Illinois, Maryland and Virginia — have a legislative guarantee, which does not necessarily ensure that the state legislature will address funding shortfalls.
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