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Reply to "529s for nieces and nephews "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I do know that one is a surgeon who makes about $900k a year and one is a private school teacher who makes about $60k. The financial aid issue is not a factor if I own the 529. [/quote] That’s not how 529s work. [/quote] But it is https://collegeplanningteam.com/new-fafsa-rules-create-grandparent-loophole-for-529-plans/#:~:text=Grandparents%20can%20maintain%20a%20529,grandchildren%20without%20impacting%20aid%20eligibility.[/quote] You do realize an aunt is not the grandparent right?[/quote] Man. Some of you are something. “While a 529 owned by a grandparent (or other third party) for the student’s benefit has never been reported on the FAFSA, a withdrawal will no longer be considered untaxed income the student receives, meaning it will not negatively affect student aid.”[/quote]
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