Alternatives to 529 Plans
There are alternatives to 529 Plans as this article by Penelope Wang, writer for Money magazine, points out. The article talks about the Coverdell Educational Savings Account (formally the Educational IRA), UGMA/UTMA custodial account, and Taxable accounts.
Of the three, the Coverdell is my personal favorite since it operates like an IRA. Your investment options are virtually limitless and you can utilize low cost investment vehicles like exchange-traded funds and index funds - something you won't find in 529 Plans.
Tags: 529 Plans, 529 Plan, Saving for College, Education Funding