529 savings plans can be used at virtually any accredited college or university in the U.S. and at some foreign schools.

529 savings plans can be used at virtually any accredited college or university in the U.S. and at some foreign schools.

The account owner of a 529 plan maintains control over the use of the account.

Some states offer matching grants and other benefits to participants in its 529 plan.

Your 529 plan contribution qualifies for the $14,000 annual gift tax exclusion.

529 plans come in two varieties: college savings plans and prepaid tuition plans.

529 plans can be used to pay for tuition, room and board, fees, books, supplies, and equipment required for enrollment.

Many states offer an income tax deduction or credit based on your contributions into a 529 plan.

here are no income limitations on a person’s ability to contribute to an account.

You can participate in almost any 529 plan across the country.

Most need-based financial aid comes in the form of student loans.

Over the past decade, tuition and room/board at 4-year public universities have risen nearly 50%.

High school graduates are more likely to go on to college today than in the past. Sixty-three percent of the year 2000 high school graduates had enrolled in college by the following fall, up from 52 percent of the class of 1970. (US Bureau of Labor Statistics)

College graduates age 25 and over earn nearly twice as much as workers who stopped with a high school diploma.

Among men, median earnings of four-year college graduates were 19 percent higher than median earnings of high school graduates in 1975. The gap grew to 37 percent in 1985, 56 percent in 1995, and 63 percent in 2005.

Among women, median earnings of four-year college graduates were 37 percent higher than median earnings of high school graduates in 1975. The gap grew to 47 percent in 1985, and 71 percent in 1995. It was 70 percent in 2005.

Minimum contributions can be as little as $10.

In most states, you can contribute as much as $300,000 or more per beneficiary.

Prepaid plans are currently offered by 12 states and 1 not-for-profit organization.

More than $247 billion is invested in 529 plans across the country.

More than 12 million 529 accounts are open nationally.