College savings for grandchildren?
by Bluntschli (2020-07-01 13:05:31)
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It's been posted here more than once that how you handle this will affect a child's financial aid (the money is counted as theirs or yours). Which fund(s) is/are to be avoided?

Thanks.

Thanks folks. This is what I was looking for. *
by Bluntschli  (2020-07-02 12:46:25)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Reply to Post

Don't even think about it,
by Moose84  (2020-07-01 15:26:27)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Reply to Post

Irish Tool!
My FAFSA shelters are all offshore. *
by Irish Tool  (2020-07-01 15:34:34)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Reply to Post

Nice tax credit for you as Indiana resident. *
by ND8486  (2020-07-01 14:10:45)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Reply to Post

Talk to an advisor. But If you have it in your name for the
by TAR  (2020-07-01 13:51:47)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Reply to Post

Benefit of the child and it is a qualified 529 plan it won’t impact your child’s fafsa calculation of expected family contribution until your grandchild actually taps into it. Then it will have to be considered as income. That is why most kids don’t use their grandparents’ 529s until they are junior or seniors

But please consult a financial advisor, as I did not even stay at a holiday inn express last night and my knowledge on the topic is only what I’ve learned based on my personal experience.