Qualified State Tuition Programs Are Exempt from Federal Income Tax

question 89

True/False

Qualified state tuition programs are exempt from Federal income tax under § 501(c)(3).

---

Definitions:

Compounded Quarterly

Describes interest on a loan or investment calculated four times a year.

Investment

Allocating resources, usually money, with the expectation of generating an income or profit.

Semi-Annually

Pertains to events or processes that occur twice a year, often used in the context of interest calculation or payments.

Investment

Allocation of resources, such as time, money, or effort, in anticipation of future gains.