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re: 529 Plans - Are they worth the investment for Children?
Posted on 4/23/19 at 7:57 pm to GAFF
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
Posted on 8/3/20 at 9:09 pm to tigersfan1989
So for financial aid, the 529 assets count as parental assets, or is it the owner of the account? I am trying to figure if this would be reason enough for a grandparent maintaining their own account for a grandchild. Am I overlooking something?
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