If you want to save in a smart way for college (either for yourself or your child), you’ll want to make the most of your money. One of the best savings plans meant specifically for growing a college fund is called a 529 plan, or a qualified tuition plan.
But what is a 529 plan? Like any sort of investment plan, there are several types of 529s, all with their own benefits and drawbacks. In this post, I’ll talk about the basics of 529 plans, why they’re helpful, whether they affect financial aid, and where you can get one.