Years ago, a financial advisor told us to save the money using a equity index fund in a taxable account. Then, gift the money to the grandchild after the last college year's FAFSA form is filled out (to avoid impacting financial aid). The gifted money would be used to pay off student loans.
But recently rules have changed for 529's and we plan on taking advantage of 529's due to tax savings...
https://www.savingforcollege.com/articl ... -529-plans
(Starting in 2024, there is also some ability to rollover unused 529 to a ROTH for the beneficiary which makes it even more attractive)
But recently rules have changed for 529's and we plan on taking advantage of 529's due to tax savings...
https://www.savingforcollege.com/articl ... -529-plans
(Starting in 2024, there is also some ability to rollover unused 529 to a ROTH for the beneficiary which makes it even more attractive)
Statistics: Posted by cooperdog — Wed May 29, 2024 9:14 pm