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Financial Planning / Paying For College


Subject:  529 vs utma Date:  12/22/2000  8:08 AM
Author:  itsbrian Number:  3242 of 8571

Hey guys I am an ohio resident and I am wanting to know which college savings vehicle is the best. I'm in between two of them and that is the 529 and the utma. I heard that if you take out a 529 plan it is not taken into account when student needs financial aid and is taxed at the childs rate. I heard that a utma account is taxed at the parents rate. I would like to know what everyone thinks. What college savings vehicle do you feel is the best and why? My daughter was just born 11-11-00 so i have a long time to save, just trying to go the best route for her. Thanks everyone.
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