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

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

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

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

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

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

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

Earnings from 529 plans are not taxed when used to pay for eligible college expenses.

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