Pros manage the money. Fidelity is doing the job for Delaware and New Hampshire. TIAA-CREF, which manages the huge teachers' pension fund, runs the New York plan. They invest conservatively, perhaps too much so. They won't guarantee you'll earn enough to pay tuition, as do the prepaids.
Most plans allow the funds to be transferred to another family member.
Likewise, most plans will give a refund, in some cases charging a penalty of up to 10 percent of earnings, if there's no student to transfer the money to or if a child isn't able to get into school. But with 7,500 schools accepting funds from the plans, there's a good chance you'll have somewhere to be on parents' weekend. He swapped it for a cheaper car and had enough cash left to cover his remaining tuition. Kennesaw State senior Christene Perry is paying her way with proceeds from state and local pageants. Charles Dunn, publisher of Pageantry Magazine , estimates that thousands of pageants award scholarships.