Qualified State Tuition Plan Earnings are taxed at child's rate, with no kiddie tax problems. You may be able to lock in a tuition price. Eventually, withdrawals for college expenses may be tax-free as well. Returns may be sub-par. Not available in all states.
Some plans only cover tuition.
Flexibility and refund policies are concerns. Hire Your Kid Awesome tax benefits. Kiddie tax is not a concern. Best used as supplement to other tax-saving ideas. Character-building experience for child.