When Grandparents & 529 Plans for College Savings Clash

As more and more grandparents are opening savings accounts to fund their grandchildren’s future schooling, it has become a growing issue that it can hurt their chances of ever receiving financial aid.

In a 529 savings plan, after-tax contributions grow tax-free and earnings can be withdrawn without a tax hit– as long as they are used to pay for qualified college expenses such as tuition or room and board.

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WSJ-When Grandparents and 529 Plans…