I work with a lady, middle class (well, she drives a Cavalier, I believe) and she was talking about her college age son or daughter and they're now trying to figure out where to go. It seemed like she was ready and willing to spend huge amounts of money ($100k+) on this person's education if they chose an expensive school, and I certainly got no impression their 529 balance was that high. I wouldn't do it that's for sure.