And there is a fix for this issue: Contribute to a parent-owned 529 plan. Be sure to check with the financial company managing the 529 plan to make sure you can transfer ownership. The myth that investing in a certain state’s 529 plan limits where a student can go to college just won’t die. Look under the “529 plan” tab on the homepage. “Be careful about using retirement plan accounts for college,” Young said.

Source: Washington Post May 24, 2018 18:56 UTC