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Financial Planning / Tax Strategies


Subject:  Re: Unexpected windfall Date:  6/22/2007  1:21 PM
Author:  irasmilo Number:  94980 of 127617

If she wants to pay for your son's college, one option is to put in a 529 keeping her as the owner. I think this has the best outcome for financial aid impacts. Try the Paying for College fool board or for info on 529's.

I'm not a big fan of 529 plans as their investment choices aren't very good and the fees are high. Additionally, you now have to report some 529 plans on financial aid applications. It probably won't take too many more years before all 529 plans are reported.


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