Almost everyone can open an account
As long as you have reached the age of majority where you are a resident, you can open a DC College Savings Plan account. It doesn’t matter how much money you have. And you may open the account for any U.S. citizen or permanent resident: a child, grandchild, friend, spouse—even yourself!
An account may be owned by one person only, and there can be only one beneficiary per account. However, two or more people can open accounts for the same beneficiary. You can contribute to the Plan even if you have other education savings accounts (such as a Coverdell Education Savings Account).
A non-profit, 501(c)(3) organization may also establish an account to fund scholarships.
Others can contribute to the Plan account
Relatives and friends can contribute. Once you have opened the account, anyone can make a contribution in amounts of $25 or more. Contributions can be made any time—up to a maximum account value of $260,000.
You can open an account for anyone
Although you can name only one person as account beneficiary, that person can be almost anyone. You may choose a family member or a person not related, a child or an adult—as long as the person is a U.S. citizen or permanent resident. And you can change the beneficiary to another member of the original beneficiary's family, without federal penalty or federal income tax consequence.
If you change the beneficiary to a person outside the original beneficiary's family, the IRS imposes a 10% penalty. (There is no penalty if the beneficiary receives a qualified scholarship and the amount withdrawn does not exceed the scholarship amount, dies, or is disabled and cannot pursue higher education. See the Program Disclosure Booklet for additional exemptions.)