COLLEGE SAVINGS 101

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Summarizes and compares the features of 529 plans, 529 ABLE plans, ESAs, UTMAs, IRAs, and education savings bonds.

YEAR 2018 RULESFederal Financial Aid
529 PlanCounted as asset of parent if owner is parent or dependent student
Coverdell Education Savings AccountsCounted as asset of parent if owner is parent or dependent student
Qualifying U.S. Savings BondsCounted as asset of bond owner
Roth IRANot counted as asset; withdrawals of principal and interest counted as financial aid income
Traditional IRANot counted as asset; withdrawals of principal and interest counted as financial aid income
UGMA/UTMACounted as student's asset
Mutual FundsCounted as asset of the owner
529 ABLE PlanAccount balances of $100,000 or less are disregarded; would also not be reported as an asset on a sibling's FAFSA
 

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