Quote:
Originally posted by BigBlueWrecking
They have certain advantages, but have some disadvantages as well. Some state laws allow you to write off state income tax if you use the states plan (only in the state you live in). There are still some grey areas in the law as to who really has ownership. There are several other ways to save, and a lot of it depends on how old the child and if there is a chance they won't use the money for college.
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Between 0 and 2 years old and absolutely going to college or I will (not literally) kill them.
Assuming my state has favorable tax treatment and decent investment choices and assumin the money will be used as intended, my question boils down to whether or not these are good plans. In other words, do they hurt financial aid, are there more tax efficient ways of saving for college, will the plans last?