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The Short Answer

6 Big Myths About 529 Plans

We tackle some common misconceptions about the popular college-savings vehicle.

Note: This article is part of Morningstar's October 2013 College-Savings Boot Camp special report. An earlier version of this article appeared Oct. 16, 2012.

Question: I'm researching 529 college-savings plans for my kids and am concerned that by choosing a state's plan I'm committing to sending them there for school. Is this correct?