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Dear Rick:
My husband and I just had our very first grandchild. We have attended many of your seminars and have read your columns, and I know that you recommend setting up a college fund for our new grandchild. In fact, a few months ago, we started researching different 529 Plans including Michigan’s and Fidelity’s plan.
We are somewhat hesitant to open a 529 Plan with all the discussions regarding free tuition. It doesn’t make sense to save for college if tuition is going to be free. Does it still make sense to save in a 529 Plan? If not, what other options would you recommend?