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Re: Saving for education
Old 05-24-2006, 10:34 AM   #61
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Re: Saving for education

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I'm still undecided what I will do...
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But one thing you can't do is make up for lost time...
ditto.* start putting some $ aside ... it only gets more difficult and expensive the longer you wait.
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The accounts are in my name and I have control
double ditto!
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Re: Saving for education
Old 05-24-2006, 02:12 PM   #62
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Re: Saving for education

Hmm, most 529 plans have a 1%+ expense ratio.

Anyone know of a national plan which allows grandparents to contribute, and has a lower ratio?
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Re: Saving for education
Old 05-24-2006, 02:23 PM   #63
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Re: Saving for education

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Hmm, most 529 plans have a 1%+ expense ratio.

Anyone know of a national plan which allows grandparents to contribute, and has a lower ratio?
There are quite a few plans with lower ratios than 1%. We use the Utah plan. www.uesp.org which >arguably< has the lowest expense ratio.
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Re: Saving for education
Old 05-24-2006, 03:04 PM   #64
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Re: Saving for education

Below are a couple of web sites that might help. A 529 plan is usually 'owned' by whoever puts the money in. The person who is going to school is the 'beneficiary'. The grandparents can own a 529 plan for each of the grandkids if they want. Or, they could own one with anyone else as the beneficiary. You can be your own beneficiary if you want - cooking school in Europe, sailing school in New Zealand, pilot lessons - you pick the school. There are requirements for a 'school' but it isn't defined as college.

Cheers,

Chris
http://www.finaid.org/savings/

http://www.savingforcollege.com/
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Re: Saving for education
Old 05-24-2006, 03:10 PM   #65
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Re: Saving for education

I'm with LOL!. We're doing the grandparent thing with the Utah 529 since the pre-paid tuition plan is no longer available in my state.


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Re: Saving for education
Old 05-24-2006, 05:18 PM   #66
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Re: Saving for education

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Originally Posted by REWahoo!
I'm with LOL!.* We're doing the grandparent thing with the Utah 529 since the pre-paid tuition plan is no longer available in my state.
Good choice!

I have 4 of them...one for each grandkid. Expenses are very low if you are a resident since they waive the annual fees. Also, the tax break won't hurt either.
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Re: Saving for education
Old 05-25-2006, 01:37 PM   #67
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Re: Saving for education

Can 529s be transferred? Can I start one with my investment company and later want to transfer it (after I do some more research) to another company?
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