My spouse and I disagree on the merits of 529 plans. Our oldest goes to college in 2006, the next two follow 3 years apart. By living below our means, we've saved about 30K in each kid's 529 account. I would like to keep contributing, esp. before we start paying college bills on the oldest. He thinks we are hurting any chances for financial aid by putting so much in our children's names, and should just invest that money in our own accounts. I think that my child won't qualify for any financial aid anyway, since we make ~100K together/year, and I like the idea of having money stashed away to be withdrawn tax free. So much of what I've read on this subject is conflicting. It seems that parents are penalized for saving for college. Any opinions?