Half of Americans Don't Know What a 529 Plan Is. Are You Missing Out?

Despite the rising cost of college, half of Americans don't know what a 529 plan is, missing out on the chance to take advantage of this valuable savings tool.

529 college savings plan theme with textbooks and piggy bank and green chalkboard background
(Image credit: Getty Images)

529 plans can be a valuable tool to save for college, but many Americans aren’t utilizing these tax-advantaged savings accounts. In fact, a surprising number of people don't even know what 529 plans are, even as college gets more and more expensive with each passing year. If you’re saving for your children’s or grandchildren's higher education, take the time to learn what a 529 plan is and how it can benefit you and your family. 

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.