1 no. In some states there is, but not Kentucky
2 yes. I is treated like a Roth IRA if used for education expenses. This can include a reasonable amount for room and board even if your child lives off campus or at home.
3 they are treated the same
4 yes, you want it in a parents name with the child as beneficiary. Then it is a "parental asset" for fafsa purposes. You can always change the beneficiary later, for example if your child doesn't go to college you could pass it on to a niece, nephew, or grandchild
To clarify, Vanguard manages Nevada's plan. My state doesn't care which state's plan I use so I went with Nevada since it has one of the lowest expense ratios and I already had assets with Vanguard. I opened it through my Vanguard account, so for all intents and purposes I "went straight to Vanguard".