529 Plan Vs Utma
June 13th, 2007
Question: UTMA Account vs 529 Plan?
Hi,
We have around 6-7k in a free UTMA savings account for our child turning 18 later this year. Would that amount have a big enough effect on their fafsa for us to change to the 529 Plan that I’m sure has annual fees, and trading fees?
Answer: it would be prudent to consult a financial consultant. 529 has its good points – maybe u should.
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