Update to my post:
Further 529 awesomeness found here on this post, which links to this post about loopholes. I heart info and these posts are very helpful when it comes to college savings and what to do. If only I had started saving when I was 20 years old. Damn. Now I will just have to get Emmy and Dessy into singing and dancing classes so they can go the pop star route. So much easier than compounding interest.
My original post below:
In case Emmy and Dessy don't become Korean pop stars or invent the next Facebook, I will want to have enough saved up to send them to Harvard. Or my nemesis, Stanford. Or Cal, the school I didn't choose in favor of USF because, after the scholarships, grants, work study and stipends from my school involvement, it cost my parents around $35K for 4 years of college there. Pretty good deal.
And if they really don't want to go to any of those schools, the 529 can be used for any post high school education. Even golf camp. Or so I'm told. You should check with your financial planner in case I'm wrong. Though that is extremely, extremely rare. My husband can totally attest to that.