Which statement is TRUE about $529$ Plans?

A Assets may only be used to pay tuition to schools located in the state that

established the $529$ Plan

B

Contributions into the plan can only be made by the parents of the

beneficiary

C Assets held in the plan can only be used to pay for qualified educational

expenses at the college level or higher

Withdrawals from the plan used to pay for nonqualified educational

expenses may be subject to a penalty tax