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re: Advice for Out of La College Savings...
Posted on 4/2/15 at 12:47 pm to MTB
Posted on 4/2/15 at 12:47 pm to MTB
529 plan. The funds can be used for education only. If taken out for non- education then a penalty is assessed. It is like a Roth in that it grows tax free. If the 2 year old doesn't go to college then the funds can be transferred to another family member for education.
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