<p>momtotwins (and OP) a Roth IRA is actually one of the best places for your money, whether it is intended for retirement or eventually for college expenses. Many people park the money there, even if not intended for retirement.</p>
<p>OP, leave the money in the Roth IRA. You can remove your contributions to pay college expenses without penalty, but while it is parked in the IRA it is considered a retirement asset, and won’t come into play on the FAFSA (while Coverdell and 529 accounts will). Also, if your child ends up with scholarships, and you don’t need to use the money for education, you don’t end up taking it out for unqualified expenses. Even you earnings can be used for educational purposes to a certain extent, without penalty.</p>