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Grandparents
In a 1999 survey commissioned by Fidelity Investments, nearly two-thirds of grandparents indicated a willingness to contribute to their grandchildren's college savings accounts. And in fact, hundreds of thousands of grandparents have already enrolled in 529 plans. If you are a grandparent, you will find 529 plans uniquely suited for this purpose.
Grandparents' Common Concerns
- I don't know which college they will attend!
- What if junior doesn't go to college?
- Can I access the money if I needed it urgently?
- What happens to the 529 plan if I die?
- Medicaid: Are 529 plans counted in my assets?
- Will a 529 affect junior's chances for Financial Aid?
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Structuring your 529 investment
- Separate 529 plans for each grandchild or one to cover all?
- When a parent already has a 529 plan for my grandchild.
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