[quote=looking]I had heard that 529s set up by parents are counted toward the kid’s financial aid but that if the child has a 529 set up by someone else (ie. grandparent) that it doesn’t count. Does anyone know if this is true??[/quote]
But some school financial aid offices count 529 income that is distributed to support a kid in college.
I know in our case, it was a non-issue. My dad originally set up the 529’s… but he died and I inherited them. (Kids remained the beneficiaries.)
Also – I’m less worried about how the 529’s will effect financial aid… I’m hoping to be retired – so NO wage income to consider. That’s one advantage to being an older parent.
