OT: Saving for children’s college

[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??

[UCGal]

[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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.

[UCGal]

[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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.

[UCGal]

[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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.

[UCGal]

[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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.

[UCGal]

[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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.

[Coronita]

I setup a 529 plan and have reached my target amount there.

The rest of “savings” for my kid is in a ugma account.

My kid wouldn’t qualify for need based financial aid so why bother?

[Coronita]

I setup a 529 plan and have reached my target amount there.

The rest of “savings” for my kid is in a ugma account.

My kid wouldn’t qualify for need based financial aid so why bother?

[Coronita]

I setup a 529 plan and have reached my target amount there.

The rest of “savings” for my kid is in a ugma account.

My kid wouldn’t qualify for need based financial aid so why bother?

[Coronita]

I setup a 529 plan and have reached my target amount there.

The rest of “savings” for my kid is in a ugma account.

My kid wouldn’t qualify for need based financial aid so why bother?

[Coronita]

I setup a 529 plan and have reached my target amount there.

The rest of “savings” for my kid is in a ugma account.

My kid wouldn’t qualify for need based financial aid so why bother?

[Coronita]

[quote=UCGal][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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.[/quote]

Well, there’s talk they want to consider assets moving forward, like the equity in your primary 🙁

[Coronita]

[quote=UCGal][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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.[/quote]

Well, there’s talk they want to consider assets moving forward, like the equity in your primary 🙁

[Coronita]

[quote=UCGal][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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.[/quote]

Well, there’s talk they want to consider assets moving forward, like the equity in your primary 🙁

[Coronita]

[quote=UCGal][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]

It sounds like this *may* be true…
http://www.savingforcollege.com/articles/five-things-to-know-about-529s-and-financial-aid

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.[/quote]

Well, there’s talk they want to consider assets moving forward, like the equity in your primary 🙁

[Author]

Posts