22:85 It's really to late to take advantage of the "miracle of compouding". We were told not to bother with 529s because DC will be off to college in two years. That's not enough time to make it worthwhile. Frankly, i would just put the money in an xlnt mutual fund, and just keep adding and adding and adding as he can. BTW, if you are working, you should be doing a Roth IRA. That would give you the same benefits of a Sec. 529 plan. Plus you can put stocks, cash, bonds, mutual funds in it.

OP here. I already have accounts for kids.

It's probably too late to get much benefit. The tax benefit is a limited amount each year (I think it's 2500 in MD). The other benefit is tax free growth, but if you are starting school in 3 months you won't have that much growth. Plus you'd want it in super conservative funds since you need the money in the near term. I'd open accounts for your kids instead and fund the tax limit each year.

I am going to professional school this fall. Is it a good idea to open a 529 account now and use the money for tuition?
I saved a good amount of money (+$100k) for emergency fund and will use the money for tuition.
Not eligible for any kind of tax break, it occurred to me that I can at least get some state tax break and tax free for gain
though the gain will be very small considering that the school starts this fall.
Does this make sense? or not really a good idea for any reason?
I can always transfer the money to my kids in case I don't use it after all.