Say you have only $2000 to throw at education for a dependent in a given year. Assuming your income is under the threshold for participation in an ESA, are there any reasons NOT to opt for an ESA over a 529?
To my investigation thus far at least, it seems like ESA's are more flexible in that they can be spent on primary or secondary education if the need arises and they seem to get similar tax treatment at least on the federal level?
Just curious if I'm missing other benfits to a 529. I'm in Illinois if that makes any difference.
Thanks for any insights!
Best Regards,
-- Todd H.
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