Which best describes the difference between a federal student loan and a 529 plan? O A federal student loan is taken out with the government and paid back with interest, while a 529 plan is a savings plan designed to save as much money as
possible before college
O A federal student loan is based on income and financial need, while a 529 plan is based on academic achievement and has no financial eligibility
requirements
O A federal student loan is a savings plan designed by the government, while a 529 plan is a savings plan used by private banks.
O A federal student loan is based on your financial need and does not require repayment, while a 529 plan has no income requirements and will need to be
paid back at a fixed interest rate