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<<You said: "529 plans <snip> but he would be giving up the right to spend the money on himself if he chooses." Really? I thought the 529 plans could be removed by the owner (not sure of the correct term, perhaps "owner" is not correct), knowing there would be penalties. Is this not correct? >>

Look for posts by 529fan - one of him will have a reference to his website but all of them are informative.

Here's the website :

My only caution about 529 plans is that they are new and the treatment of them isn't written in stone - both in terms of financial aid and taxes.

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