How Grandparents Can Help Pay for College

How Grandparents Can Help Pay for College

Ross Riskin
The Wall Street Journal
January 31, 2019

Assistant Professor Ross Riskin met with The Wall Street Journal to discuss 529 plans and how grandparents can help pay for college. This article was originally posted in The Wall Street Journal.

Readers wrote to us with questions about saving for college and tax-advantaged “529” accounts. We asked experts to help us answer them.

I have 529s for my grandchildren. To avoid the negative financial impact of grandparent funds on financial aid: Can I transfer the 529 funds to the parents? Will the transfer be subject to a gift tax? I live in Ohio so will the state tax deductions that I received need to be refunded to the state? Are there negative financial aspects to this approach?

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