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Who You Gonna Call? 529 Myth Busters

By Ashley Murdie
Communications and Financial Literacy Director
Kansas State Treasurer's Office
October 27, 2014

Halloween is just around the corner, and while the fear of things that creep and crawl through the night may spook others, it’s 529 myths that truly have me worried. All too often, I’ve heard the same myths regarding 529 plans used as reasons by parents for not opening an account. 

It costs too much to start a 529 account…

     My child will have to attend an in-state school….

          I’ll lose the money if my child doesn’t go to college…

Knowing that these 529 myths and others still continue to deter families from using such a valuable resource is alarming, which is why I’ve made it a personal goal of mine to squash these pesky things. I’ve compiled a list of menacing myths below that I plan to debunk in hopes that parents no longer fear the use of 529 accounts in their efforts to save for their child’s education.

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

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