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How to Set Up Savings Accounts for Grandchildren - SmartAsset
WebDec 28, 2024 · Let’s say a grandparent wants to contribute $20,000 to a 529 plan for their grandchild. Under the old rules, that $20,000 would be reported as income on the grandchild’s FAFSA application, reducing the total aid package by 50% or $10,000. Under the new rules, it wouldn’t be reported and there would be no reduction. WebStarting college funds for grandchildren. Becoming a grandparent is a monumental moment in life. You’ve already been a parent and played a major role in raising your child into … rotoped sportisimo
Financial Tips on Giving Money to Your Grandchildren - AARP
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