Any Experts on College Financial Aid

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boater07
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Joined: Sun Apr 15, 2007 7:44 pm
Location: Northwest

Any Experts on College Financial Aid

Post by boater07 » Fri Mar 02, 2018 2:16 am

I have been led to believe that my 529 plans for grandkids are best in my name versus deeding to parents.
I'm now informed that they pay a penalty for need based/[not merit] for those accounts. ie 20% reduction
vs 5% when in parents name for distributions.
We've also learned that some colleges ask for such plans before granting aid. This is counter to what I understand.
Has anyone gone thru this scenario recently??

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