529 plans are popular education-savings tools due to their tax-deferred growth and tax-free
withdrawals for qualified expenses, such as tuition and books. They offer generous lifetime contribution limits, which vary by state, and have been made more flexible with new rules allowing funds to be used in some states for K-12 tuition and in certain circumstances reallocated to a Roth IRA. However, some parents seek alternatives due to uncertainties about their child's education plans or the desire for more financial flexibility.