Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How Grandparent 529 Plans Save Taxes
Most families don't realize that keeping college savings in a grandparent's name can drastically reduce financial aid impact. We break down the 'pay-as-you-go' strategy for 529 plans, where assets aren't reported on the FAFSA until withdrawn, unlike parent-owned accounts which count as student assets at up to twenty percent. Lucas and Luna examine the specific mechanics of this loophole, the timing of withdrawals relative to the sophomore year, and how to structure distributions to maximize aid eligibility while still funding tuition.
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The skinny
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