Americans need an education about 529 college savings plans. Nearly 3 out of every 4 polled don't know what a 529 plan is, investing firm Edward Jones found in its May 2016 529 Plan Awareness Survey. In addition, about half of all U.S. families sock away money for college in savings and checking accounts, according to a 2015 Sallie Mae survey. Even those "in the know" regarding the 529 plan as a useful vehicle for funding university-level education often suffer from some serious misgivings and misconceptions.
The folks at Nevada's state-sponsored SSGA Upromise 529 Plan cobbled together a list of common myths about products such as theirs. CNBC.com takes a look at a selection of the top myths they identified, along with some culled from other plan providers and college-funding websites, in the following slideshow.