Scholarship Stipend and 529 Plan

MaryGJ
Tue, 05 Sep 2017 21:38:12 +0000

We just divided the 529 money into four…and had the 529 people write the college a check each year. After grants, scholarships, loans, etc…sometimes there’s money left over, sometimes not. If there is, the college gives my kiddo a refund. She pays her off campus rent and eats with it. The paper trail has it going straight to the college, though…which I like. Truthfully? This whole tax nightmare around college? I kinda wing it and hope to God it’s close to right, and if it isn’t, that no one notices. I’ve been honest, and I’ve tried to do it right…beyond that, I’m not losing sleep over it. That said, I’ll breath a sigh of relief 3 tax years after graduation when most risk of audit is gone. LOL