My child's college offers an option to pay for all four years of tuition at the freshman year tuition rate. For example, if the freshman tuition was $30,000, I can pay $120,000 for tuition up front and avoid the 4-6% annual tuition inflation. My first question is whether I can withdraw the full $120,000 from my 529 in this year to fund 4 years of college. The college would refund any unused tuition for the future years if my child changed schools. My second question is whether I could redeposit any refunded tuition back into the 529 or would that be subject to a penalty.