New FAFSA Removes Roadblocks for Grandparent 529 Plans
Grandparent 529 plans are becoming a popular way to save for college – and for good reason. With a 529 plan, you can build an educational legacy for your grandchild while taking advantage of tax and estate planning benefits.
One potential drawback of grandparent 529 plans, however, is that they can affect financial aid eligibility. But, thanks to upcoming changes to the Free Application for Federal Student Aid (FAFSA), starting in 2021 grandparents no longer have to worry about the “financial aid trap”.