Congress looking at 529 ownership issues
Two of Congress's research groups have requested information from the College Savings Plans Network as to whether states permit a minor (under 18 years of age) to be an account owner of a 529 plan.
CSPN explains that "Congress is in the process of implementing the Deficit Reduction Act and has asked CSPN for information about 529 plans that will help them during this process.The Congressional Research Service and the Advisory Committee on Student Financial Assistance are working on behalf of Congress to insure the accurate implementation of the act as it applies to the financial aid treatment of 529 plans.Consequently they are interested in determining if any programs allow a minor (under 18 years of age) to be an account owner of a 529 plan, either a savings plan or a prepaid plan."
Return to 529 News centerCSPN explains that "Congress is in the process of implementing the Deficit Reduction Act and has asked CSPN for information about 529 plans that will help them during this process.The Congressional Research Service and the Advisory Committee on Student Financial Assistance are working on behalf of Congress to insure the accurate implementation of the act as it applies to the financial aid treatment of 529 plans.Consequently they are interested in determining if any programs allow a minor (under 18 years of age) to be an account owner of a 529 plan, either a savings plan or a prepaid plan."