<p>vballmom- just went back and read your prev. post -so what it sounds like is in 2009, a 529 owned by the child will have the same advantages as a 529 owned by the parent in regard to the FAFSA? So if there was a UTMA cash account (no capital gains) it would make sense to transfer it to a 529 account owned by the child to get the financial aid benefits in 2009?</p>