As a current participant myself, I like the plan because it enables me to conveniently save for my child's college expenses through payroll deduction. Indiana had the first college savings plan in the country to offer participants a choice of investment options.
Participants have the option to choose where to invest their money.
Tax-deferral on earnings until the money is taken out to pay for higher education expenses. When the money is withdrawn, it is taxed at the child's rate, not yours. All they have to do is send their contribution with a payment coupon to the College Savings Plan Office. You don't have to be an Indiana resident to participate. The Beneficiary can attend most accredited colleges, universities or vocational-technical schools nationwide.