I know these questions have been asked before, but I want to ask about my specific situation. I currently live in FL, but I have a niece in TX who is 13 whose mother will definitely not be able to help her with college funds. My sister, my mother, and I want to open up a college savings plan for her. We'd like one that cannot be touched by her mother, cannot be used by my niece except for college expenses, and can be re-designated to her younger brother or sister in the event she doesn't go to college or gets a scholarship/grant. Obviously we'd like something that doesn't count against her when applying for financial aid.

I talked to a USAA rep about their 529 plan, but he suggested looking into the Texas specific 529 as well, but I'm not sure there's any added benefit by going with that plan. The Texas tomorrow Fund is closed but they do have the Promise Fund which I don't know much about.

Here is the website I was looking at: http://www.texastomorrowfunds.org/. Any advice/tips will be much appreciated.

[This message has been edited by old ag 2003 (edited 12/14/2009 10:08a).]

I'm also interested in any advice you guys can give.

I have a 1 yr old and a new baby cooking in the oven.

I want/need to set up a saving fund for college but don't know alot.

My insurance agent called trying to sell me a 529 through him but I declined as I don't want all my eggs in one basket.

Any help/advice would be appreciated!!!

Personally, we're doing the Texas guaranteed tuition for half and then funding a Schwab 529 for the other half for each of our 3 sons (all currently under 3 years old). I didn't want to fully prepay for a degree in Texas should one or more decide to go to a private university or out of state, so I hedged a bit.