529 Plan Tips for Grandparents to Save for College
September 7, 2021 – In a U.S. News & World Report article about what grandparents should know before they open a 529 plan for their grandchild, Shannon Vasconcelos, Director of College Finance at Bright Horizons College Coach shares insight on the financial aid and tax implications.
"Under FAFSA simplification, grandparents, noncustodial parents, and others wanting to help pay for a student’s college education will no longer need to worry about their assistance costing the student financial aid that they may otherwise be eligible for," Vasconcelos says. "Grandparents and noncustodial parents can save in a 529 that they own. They don’t need to worry about giving up control over their savings or timing their payments to avoid negative financial aid implications."
Read the full story here