Steve and Steph feel that they make and have plenty of money to send their two children to the best university available; therefore, they stated to their accountant that their kids do not need college savings plans. Which of the following reasons would their accountant most likely give to persuade them to invest in a college savings plan?

Steve and Steph still qualify for contribution tax deductions under Section 529 plans, and can shield some of their income.

The government already pays for some college under Section 529 plans, so they might as well take the free money.

The college will actually charge a higher tuition rate for students who do not direct-deposit college savings plan funds.

Steve and Steph still qualify for American Opportunity tax credits under the Coverdell Education Savings Account and can shield some of their income.