Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
The Custodial 529 Strategy for Teens
In Episode 6 of The College Savings Podcast, Lucas and Luna unpack a specific, underused maneuver: opening a custodial 529 plan with a teenager as the account owner. They walk through why the Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) accounts can be converted into 529s, how that affects financial aid calculations, and the behavioral upside of giving a 16-year-old some skin in the game. They cite the FAFSA simplification rules that took effect in 2024 and use a concrete example of a family in Ohio to show state tax implications. The conversation also touches…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.