Right, other than that do you see any advantages ? I'm looking for college/ seminary savings.
Benefits of a 529 plan (that may be available in other types also):
-For people with higher income, the contributions to these accounts are state income tax free up to $5000/person- $10,000/couple.
-The beneficiary can be changed easily and quickly. (to a relative)
-The earnings are tax free.
-Can be used for any higher education expense not just tuition. (books, dorm (not outside apt)