What you must know about 529 plans
One of the most popular college savings vehicles -- with good reason -- is the 529 plan.
Offering federal and, in some cases, state tax advantages, 529 plans are low maintenance, provide tax-deferred growth and make less of an impact on a student's financial aid package than money stored in checking and savings accounts.
These plans are also complex, and choosing the one that fits your family can be daunting. Know these seven points before opening a 529.