529 is a children's education savings plan designed for parents starting from 1996, and 529 refers to the IRS code 529. The biggest advantage is that you can save taxes. If ordinary middle-class families attach importance to their children's education, they will adopt it. The disadvantage is that in case the family situation is only relatively affluent, but the children are very eager to enter a HYPSM-level school, the money in the 529 account will be deducted by the school financial aid office, so the subsidy will be less than when there is no 529.

Don't worry if your parents don't file tax returns in the United States.