Timeline for 529 vs IRA for kids education and future scholarship
Current License: CC BY-SA 4.0
4 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Dec 5, 2019 at 17:09 | comment | added | user4556274 | Yes, if applying for financial aid, the balance must be reported (just like all other assets). But parental assets are treated very differently from the child's assets for the purposes of determining funds available for schooling and eligibility for merit-based and need-based aid. | |
| Dec 5, 2019 at 16:43 | comment | added | JTP - Apologise to Monica♦ | Yes, the parent is the owner. But parent still must disclose 529 balance when asked. | |
| Dec 5, 2019 at 12:33 | comment | added | user4556274 | But 529 accounts should not be money in the child's name. Normally, the 529 account would be in the name of the parent with the child as the designated beneficiary. | |
| Dec 5, 2019 at 10:44 | history | answered | JTP - Apologise to Monica♦ | CC BY-SA 4.0 |