Another approach for parents and grandparents may be to combine the features of custodial accounts and 529 college savings plans with a custodial 529 plan (UGMA/UTMA 529) account. A custodial 529 account is not the same as a traditional UGMA/UTMA, and also not the same as the tradition...
529 plans are one of the best ways for grandparents to save for college because while contributions to a 529 plan are not deductible at the federal level, over 30 states offer a tax deduction or credit for contributions.Historically, one of the major concerns about grandparent-owned 529 plans...
“The fear that a grandparent helping their grandchild by using their own 529 plan would interfere with them getting financial aid, that worry is gone now with the new rules,” said Stuart Siegel, president of college financial-aid serviceFAFSAssist. The change is part of an overhaul ...
Do you need help with taxes, insurance, investments and retirement? Discover the benefits of a wealth advisor who offers all of these services under one roof. Download 10 Tips Now 529 Plans A 529 plan can be another option for grandparents to contribute to a grandchild’s college education. ...
Saving for College: Section 529 Plans To help parents, and grandparents, meet this mounting challenge, almost every state now offers a Section 529 plan that encourages investing for higher-... D Meister,M Lynch - 《Coal Leader》 被引量: 0发表: 2003年 College students' relationships with ...
However, these plans can be less flexible than 529 plans, with potential limitations on qualifying expenses, contribution limits, resident requirements, and transferability. Private college 529 plan: Similar to a state pre-paid tuition plan, this allows you to tuition at today’s rates for future...
If your grandchildren are five or more years from college, the best way to cover their education costs might be to superfund a 529 plan. For example, a married couple with six grandchildren could transfer $180,000 to each grandchild's 529 in 2024, which would remove more than a million ...
Sign up Frequently featured in Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs. ...