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Author: bad4u Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121598  
Subject: Educational IRA Date: 11/4/1998 8:32 AM
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I want to start an Educational IRA for my nephews. Curious, what happens if they grow up and decide not to go to college?
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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6119 of 121598
Subject: Re: Educational IRA Date: 11/4/1998 10:52 AM
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[[I want to start an Educational IRA for my nephews. Curious, what happens if they grow up and
decide not to go to college?]]

There are a number of options. They can transfer the education IRA to another qualified family member, or they can take the money and pay the tax (and penalties).

This is explained in MUCH greater detail in my post on the education IRA that you can find in the Taxes FAQ area. You should check it out.

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Roy

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