529 Fund - Question

<p>I just found out that my granddad has a bunch of money stored away from me but it's in some weird fund called 529 - I've gotten conflicted information on whether or not I have to list this as a personal asset on my financial aid requests... it's enough money that it will really make a difference...</p>

<p>If the 529 is under your SSN, then you do need to declare it on your fafsa.</p>

<p>If your Grandad has it under hs SSN, then you do not.</p>

<p>CSS/profile does ask you to report any 529 accounts where you are named as beneficiary so fo CSS you are supposed to report it.</p>

<p>For FAFSA there was a loophole where student owned 529s were not reportable at all. I think this has been changed for the upcoming year to where student owned 529 accounts must be reported but are reported as part of parent assets. You don't have to report grandparent owned 529s on FAFSA (unless that rule has changed - I don't recall that it has but it is a while since I read all the changes).</p>

<p>I'm sure you've already done so but be sure to thank your grandfather.</p>