529 Plans to pay scholarships

NataliaMuniz Posts: 5 ✭✭

January 16 in Grants & Scholarships

Hi! Our Community Foundation is looking into paying scholarships through 529 plans to help avoid aid displacement. Do any other organizations pay scholarships this way? Has it been helpful in reducing aid displacement? Thank you!

Tagged:

• #scholarships
• #scholarship
• #financialaid

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Comments

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  MollyCerroni Posts: 49 ✭✭✭

  

  January 23

  We haven't looked into it, but I do know that there are not a lot of families in our area with 529 plans. I am not sure what happens in that case? Do you ask the student to create one?

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  NataliaMuniz Posts: 5 ✭✭

  

  January 28 edited January 28

  No, we would probably have an organization owned 529 Plan and then make the students beneficiaries. Here's a helpful FAQ article on how it could work:

  https://www.studentsfirstconsulting.org/resources/529-faqs

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