Friends of ours with 2 elementary age kids (parents went to Amherst and Princeton–both schools are members of the plan) were debating the merits. They live in VA which has solid instate options as well. I thought since there is a very good chance that their kids would go the private college route (and with almost 300 schools to choose from including their legacy choices), it might be a good option for them IN ADDITION to a traditional 529 vehicle. Thoughts?
Can the money be used anywhere other than these places? How much do they get back if the kid chooses a non-participating place? Would itnot just make more sense to stash it in a regular 529 that can be used anywhree?
We have both - 529 investment accounts and one year of pre-paid for 2 of our kids. The pre-paid locks in tuition at a lower cost. So if you think at least one kid will go in-state it is a pretty sweet deal. You can move it from older kid to younger if the first child doesn’t use it. You do get the money back if no one goes in-state but you won’t get much interest on it - that is the risk to the pre-paid.