Question: Many states have established college tuition programs that enable parents
Many states have established ‘‘college tuition’’ programs that enable parents to accumulate funds to pay for their children’s college education. The plans vary from state to state but typically they have features that protect against the rising costs of tuition at state universities. Some plans permit students to use the funds at private or out-of-state schools but do not protect against tuition increases at those schools. In most plans, the amounts deposited are refundable at the depositor’s request. Do you think that these ﬁnds should be accounted for as private purpose trust funds?
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