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Reply to "When to stop contributing to a 529 plan"
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[quote=Anonymous][quote=Anonymous]Fund the 529 with enough for in-state, and keep putting away more in a brokerage account. This way, if they go in-state you won't lose the money, and if they go private and/or expensive, you have the funds to cover their education, without any downsides (you can use the money for anything you want).[/quote] +1. The odds of your kid getting into a school that costs $80k a year and you having to pay full freight out of pocket are fairly low. Admissions rates to the top 20 are low, and schools outside of the top 20 give merit aid pretty freely. My kid wasn’t admitted to the top 20 school they applied to, but got around $30+k a year everywhere else they were accepted, which brought the cost down to about the same as in state public full freight. If they had gone in state, it would have been even cheaper after merit aid. So, save enough, just in case your kid wins the lottery, but don’t lock it all up in a 529. [/quote]
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