A federal program operated by the states, established by Section 529 of the Internal Revenue Code. TPPs let you lock in current tuition rates of public colleges now (via a lump sum investment or a series of periodic investments), protecting against inflation. The accounts only cover tuition at in-state schools; if the student chooses to attend a private or out-of-state school, the plan will only pay a portion of the cost. Financial advisors generally consider TPPs to be vastly inferior to College Savings Plans.