529 College Savings Plan	Custodial Account (UGMA or UTMA)	Coverdell Education Savings Account	Prepaid Tuition Plan	Taxable Account
Ownership or Control of Account	Account owner	Custodian controls until the minor reaches the age of 21, the age of majority according to Oregon state law.	Generally, account owner controls for the beneficiary.	Account owner	Account owner
Guidelines for Use	Qualified higher-education expenses at any eligible college or university nationwide.	If used before the age of majority, it must be used for the benefit of the child. No restrictions on the use when under the control of the beneficiary.	Must use for qualified higher-education expenses by the time the beneficiary turns 30. Qualified education expenses include public, private, and parochial elementary, secondary, and post-secondary schools.	There are two types: state-run and college-operated plans. Typically only available for tuition and fees.	None
Adjusted Gross Income Limit	None	None	Single filers: $95,000 to $110,000 Joint filers: $190,000 to $220,000 Contribution limit has been extended to April 15.	None	None
Annual Contribution Limit	$250,000 maximum total contribution. $55,000 lump sum contribution per donor per beneficiary allowable in a single year without begin subject to federal gift tax. If the account owner dies before the end of the five-year period, the remaining portion will be returned to the estate. Contributions may be made to both a Coverdell ESA and a 529 plan in the same year for the same beneficiary.	No limits. Transfers up to $11,000 per year ($22,000 per couple) to a child's UGMA or UTMA account without being subject to federal gift tax treatment.	Contributions are not federal or state tax deductible. Donor can contribute $2,000 annually to designated beneficiaries under age 18. Contributions may be made to both a Coverdell ESA and a 529 plan in the same year for the same beneficiary.	Varies by state — may depend on state tuition rates. $55,000 lump sum contribution per donor per beneficiary allowable in some states in a single year without being subject to federal gift tax. If the account owner dies before the end of the five-year period, the remaining portion will be returned to the estate. Contributions may be made to both a Coverdell ESA and a 529 plan in the same year for the same beneficiary.	None
Taxation of Earnings	Qualified distributions are Oregon state and federal income tax free.	Earnings will be taxed at the child's tax rate in the year in which they are earned.	Qualified distributions are federal income tax free. State tax treatment will vary.	Qualified distributions are generally federal income tax free. State tax treatment will vary.	Earnings are taxed in the year in which they are realized.
Taxation or Penalty for Non-qualified Withdrawals	Earnings portion of non-qualified withdrawals taxed as ordinary income to the account owner and is subject to the federally mandated 10% additional federal tax.	N/A	Earnings portion of non-qualified withdrawals taxed as ordinary income to the account owner and is subject to the federally mandated 10% additional federal tax.	Varies state by state. Typically only get back principal plus a modest return. A fee or penalty may apply.	N/A
Change of Beneficiary	May transfer account to benefit a member of the designated beneficiary's family state and federal tax and penalty free.	Not permitted. Contributions are an irrevocable gift to a child.	May transfer account balance to another Education Savings Account of a family member of the designated beneficiary tax and penalty free.	May transfer account to benefit a member of the designated beneficiary's family federal tax free.	N/A
Underlying Securities	Variety of mutual funds; stock funds, bond funds and cash management funds.	Any legal or valuable item	Any legal security	State government guaranteed	Any legal security
Estate Planning Advantages	Monies contributed to these plans are considered removed from the donor's estate. Investment direction can be changed once per calendar year, or if the beneficiary is changed.	Monies contributed to these plans are considered removed from the donor's estate.	Monies contributed to these plans are considered removed from the donor's estate.	Monies contributed to these plans are considered removed from the donor's estate.	None