A lot of families across the country are pumping every penny they can into state college savings plans.
But new information shows many states are in the red and, when it comes time to pay for college, those accounts won't pay up.
Ohio and most states have a 529 savings plan. Other states, like Illinois and Kentucky, have both a savings and pre-paid tuition plan. Now those pre-paid tuition plans are under-funded, leaving families without tuition money.
Ohio stopped taking investments in their prepaid tuition plans back in 2003.
"Because they were worried about where the world was going, great move by Ohio," says financial expert, Kevin Myeroff.
But those pre-paid tuition plans still exist for families who paid into them before 2003. And are still fully backed by the state of Ohio, meaning, the money you paid into them up until 2003 is 100 percent guaranteed.
The Ohio Tuition Trust Authority also says that fund is on track to pay those tuition credits. Otherwise, the burden to pay up would be on Ohio taxpayers.
The current Ohio 529 plan, which is a simple investment savings, is ranked high for return on investment but keep in mind -- with no guarantee.
"In the savings plan, the risk you take is no different than your 401k plan that you have at work," says Myeroff.