In 2001,the tax laws were changed to allow substantial tax benefits for parents who wish to set aside money for their children's future college expenses.

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The statement is true. The tax laws were indeed changed in 2001 to allow tax benefits for parents who want to save for their children's college education. This change came in the form of the introduction of 529 plans, which are tax-advantaged savings plans designed for college expenses.

In 2001,the Tax Laws Were Changed to Allow Substantial Tax