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Understanding Grandparent-Owned 529 Plans

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Manage episode 345817498 series 2794666
内容由The College Investor提供。所有播客内容(包括剧集、图形和播客描述)均由 The College Investor 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

What is a grandparent-owned 529 college savings plan? How do they work? What do you need to know about them and what changes should you know about?

A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary.

Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no limit on the type of 529 plan where grandparents can make contributions. Grandparents can contribute to grandparent-owned 529 plans, custodial 529 plans, and parent-owned 529 plans.

Keep in mind that grandparent-owned 529 plans have a different impact on eligibility for need-based financial aid than parent-owned 529 plans. Here's what you need to know if you're interested in a grandparent-owned 520 plan.

  continue reading

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Manage episode 345817498 series 2794666
内容由The College Investor提供。所有播客内容(包括剧集、图形和播客描述)均由 The College Investor 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

What is a grandparent-owned 529 college savings plan? How do they work? What do you need to know about them and what changes should you know about?

A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary.

Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no limit on the type of 529 plan where grandparents can make contributions. Grandparents can contribute to grandparent-owned 529 plans, custodial 529 plans, and parent-owned 529 plans.

Keep in mind that grandparent-owned 529 plans have a different impact on eligibility for need-based financial aid than parent-owned 529 plans. Here's what you need to know if you're interested in a grandparent-owned 520 plan.

  continue reading

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