Education Planning – FAQs -3

[accordions] FAQs
[accordion title=”Opening a 529 account”]
Are there rules on who can open a 529 account?
Can a non-U.S. citizen open a 529 account?
Can I open a 529 account for a nonrelative?
Can I open a 529 account in anticipation of my future grandchild?
Can I open a 529 plan with a lump sum?
Can more than one account be opened for the same child?
Can my spouse and I open a joint 529 account for our child?
Does it make sense to open a 529 account if my child is only two years away from college?
How do I enroll in a state’s 529 plan?
I have two children. Should I open one account for both children or one account for each child?
If I open a 529 account, will my child’s choice of college be restricted?
Is there an income limit on who can open an account?
What happens if I open a 529 plan in one state and then move to another state?
[/accordion]
[accordion title=”Paying for college”]
I’ve heard that a grandparent can pay a grandchild’s tuition directly to the college without any gift tax problems. Is this true?
Should I take out a home equity loan to pay for my child’s tuition?
Should I use my 401(k) to fund my child’s college education?
Should I withdraw money from my IRA to pay for my child’s college tuition?
[/accordion]
[accordion title=”Saving for college”]
Are government savings bonds risk free?
Are savings bonds a good way to save?
Are state savings plans a good way to save for college?
Can an UGMA/UTMA account reduce my child’s financial aid for college?
Do series EE bonds offer any special advantages if used for college savings?
Help! My child is only two years away from college and we haven’t saved much. What should we do?
How can I save for my child’s college education?
How can we possibly save for retirement and our child’s college education at the same time?
Should I establish a trust for my child’s college education fund?
Should I open a Coverdell education savings account?
Should I save for college in my name or my child’s name?
What are the rules for Coverdell education savings accounts?
What is the CollegeSure CD?
[/accordion]
[accordion title=”Selecting a college”]
How should my child go about selecting a college?
[/accordion]
[accordion title=”Student loans”]
Are my student loan payments tax deductible?
Can I refinance my student loan?
How will I ever pay off my student loans?
I’m having trouble paying my student loans. What should I do?
Is student loan interest deductible?
Should I pay off my student loans early with a home equity loan?
[/accordion]
[accordion title=”Understanding 529 investments”]
Does a state savings plan allow me to choose my own investments?
Is my rate of return guaranteed under a 529 plan?
What recourse do I have if I’m unhappy with my state savings plan’s investment performance?
What’s the difference between how a state savings plan invests and how a prepaid tuition plan invests?
[/accordion]
[accordion title=”Using or withdrawing 529 funds”]
Can 529 funds be used for general living expenses while at college?
Can the funds in a 529 plan be used for college expenses if my child is only attending part-time?
How do I prove that a distribution request is for my child’s college expenses and not for some other purpose?
Must the funds in a 529 plan be used for tuition only, or can they be used for room and board expenses?
My child got a full scholarship to college–now what?
My child is the beneficiary of a 529 plan. Can he use the 529 funds at a foreign school?
My child is the beneficiary of a 529 plan. Can he use the 529 funds for graduate school?
My child is the beneficiary of a 529 plan. Can he use the 529 funds for vocational school?
My child is the beneficiary of a 529 plan. Can we use the 529 funds for her private elementary or secondary school?
My child will be going to college next year and using 529 funds to pay expenses–what do I need to do?
What happens if I need to use the funds in a 529 plan before my child goes to college?
What happens if I open a 529 account for my child, and she later becomes disabled and doesn’t go to college?
What happens if my child finishes college and there is money left over in the 529 account?
What happens to my 529 plan if my child wants to postpone going to college for a year or two after high school?
What happens to the funds in my 529 account if my child doesn’t go to college?
[/accordion]
[/accordions]
Previous Educational Planning – FAQs