Should I start a college fund for my kids?

Asked 3 years ago

I am not sure I want to start one because there's always a chance they will end up not going, and then there's a penalty. What have you guys done? I want to start a small investment account for them. Thanks!

Andia Rispah Igobwa

Friday, May 21, 2021

Should your kid fail to go to college you can avoid penalties on your 529 plan. Here's how:

  • Give the fund to another family member who wants to go to college
  • Use the fund later when the beneficiary goes to graduate school
  • Use the fund to further your own education
  • Pay for a grandchild in future

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