All of the following are characteristics of the prepaid tuition plan except what?

Prepaid tuition plans typically allow families to pay for future college tuition at today's rates, providing a hedge against rising costs. They are generally state-sponsored and may have restrictions on which colleges can be attended. However, they do not usually cover additional expenses such as room, board, or fees associated with attending college. Therefore, the characteristic that does not apply is that they cover all college-related expenses beyond tuition.