Saving for education

A majority of states now offer parents a way to save for their children's college education. As of March 30:

-- Thirty-five states offered college savings accounts.

-- A dozen states offered prepaid college tuition contracts.

-- Six states offered a plan allowing parents to prepay college tuition or a savings plan guaranteed to cover tuition.

-- Thirty-seven states offered at least one college savings plan. Eight states, including Michigan, offered more than one plan, such as college savings accounts and prepaid tuition contracts.

-- Twenty-nine states offering college savings accounts do not have a residency requirement.

(Source: Certified public accountant Joseph Hurley on his Web site, http://www.savingforcollege.com)