As the cost of higher education continues to rise, parents and guardians are increasingly seeking effective ways to save for their children’s educational future. One prominent tool in this endeavor is the 529 plan—a tax-advantaged savings plan specifically designed to encourage families to set aside funds for education expenses. In this comprehensive guide, we will explore the intricacies of 529 plans, covering everything from their types and benefits to potential drawbacks, tax implications, and tips for optimizing these savings vehicles. Section 1: Unraveling the Basics of 529 Plans Overview of 529 Plans: 529 plans are investment accounts sponsored by states,…