How Do "College Funds" Work?

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Discus: Parents Forum: 2004 Archive - Part 2: How Do "College Funds" Work?
By Goodchocolate (Goodchocolate) on Sunday, August 15, 2004 - 03:34 pm: Edit

I realize this doesn't belong in this forum, but it wasn't being answered in the other one, so:

I know the money that's paying for my college is in a college fund. If I decide to stay in-state (FL) for college it will cost me close to nothing; would I get to keep all the leftover money, or is it money that can only be used for educational purposes?

By 2dsdad (2dsdad) on Sunday, August 15, 2004 - 11:46 pm: Edit

When you say "college fund" are you talking about a 529 plan? A trust? A Uniform Gifts to Minors account? A prepaid college tuition program? Parents' savings account?

I may not know the answer but I can't even begin to offer an opinion without more information.

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