Does a Sibling’s 529 Plan Assets Hurt Financial Aid Eligibility?
Assets held in a 529 plan are considered when determining a student’s financial aid eligibility. A sibling’s 529 plan assets may also be considered, depending on whether the 529 plan is a parent-owned 529 plan or a custodial 529 plan, and which college the student attends.Read More
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Should You Convert an UGMA or UTMA to a 529 plan or not?
Your clients set up an UGMA or UTMA bank or brokerage account for their child or grandchild several years ago and have been gifting cash and securities into the account. Should they now convert the account to a 529 plan?Read more
How to Avoid the 10% Tax Penalty on Non-Qualified Distributions
The earnings portion of a non-qualified distribution from a 529 plan is subject to income tax at the beneficiary’s rate, plus a 10 percent tax penalty. There are, however, several exceptions in which the 10 percent tax penalty does not apply, such as death or disability of the beneficiary and receipt of a qualified scholarship by the beneficiary.Read more
18 States Offer FDIC-Insured 529 Plan Options
18 states offer 529 plan options that are insured by the Federal Deposit Insurance Corporation (FDIC), including high yield savings accounts and bank certificates of deposit (CDs). FDIC-insured investments are suitable for families who want to preserve capital in their 529 plan without taking on excess risk.Read more
Harvard and MIT Sue Trump Administration Over International StudentsSee more articles
Harvard and the Massachusetts Institute of Technology (MIT) sued the Trump administration over the recent policy change that requires international students to transfer or return home if their college offers only online courses.Read more
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Q&A with 529 Guru: Joe Hurley
Specialist Joe Hurley answers your questions.
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