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529 higher ed savings question.
Posted on 6/13/18 at 6:19 pm
Posted on 6/13/18 at 6:19 pm
If you open a 529 account in your own name rather than your kid's name, can you get better financial aid packages for the kid?
This post was edited on 6/14/18 at 10:57 am
3
Posted on 6/14/18 at 1:49 pm to LSUTigersVCURams
Anyone?
Posted on 6/14/18 at 2:44 pm to LSUTigersVCURams
529 must be opened in the name of a child. You still control it, ie you could change another child to be the beneficiary of it down the line if you wanted.
Posted on 6/14/18 at 2:53 pm to LSUTigersVCURams
If you are the beneficiary of the 529 account then the proceeds can not be used for anyone else but you to be considered a qualified expense.
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