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How can a 529 plan help me save for my child's college education?
You get to put money away with special tax incentives (ie - no or less taxes to pay)  They are state sponsored and therefore pretty reliable, but some states are better than others. Like with many of these tax incentive type accounts (FSA, Dependent Care Spending Accounts) they are use it or lose it.  (In a 529, use it or transfer it).  So the money put away is a sunk cost towards education and cannot be repurposed for something else should your kid not want to attend school. http://money.howstuffworks.com/personal-finance/financial-planning/529.htm