Grandparent 529 Plans Get A Boost From New FAFSA Form
By Robert Farrington
While plenty has changed about saving for college over the last few decades, the benefits of 529 plans cannot be overstated. And if you're looking for a way to help your kids avoid a lifetime of crushing student loan debt, it's probably better to open one of these accounts sooner rather than later.
The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual.
Robert Farrington is not affiliated with US Wealth Management, LLC and LPL Financial.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.