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re: 529 Plans - Are they worth the investment for Children?
Posted on 4/23/19 at 7:32 pm to tigersfan1989
Posted on 4/23/19 at 7:32 pm to tigersfan1989
How does a 529 affect the probability of getting a grant/financial aid? I’ve heard stories where a student received a lower grant/aid total than what they would have received if there wasn’t a 529.
2
Posted on 4/23/19 at 7:52 pm to GAFF
edited because I was wrong
This post was edited on 4/23/19 at 8:50 pm
Posted on 4/23/19 at 7:57 pm to GAFF
The 529 counts toward a parental asset at around 5% rate compared to if you held it in a personal brokerage account under the parent name they would attribute the value of 20% rate. I did a lot of this research when I opened a few accounts. Technically the 529 account is held in the parent name. So either way the feds will screw you just not as hard with the 529 when applying for federal aid.
This post was edited on 4/23/19 at 8:00 pm
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