A 529 plan can be a great way to save for your grandkids’ college education, and it is now easier to use in conjuction with financial aid. Thanks to the FAFSA Simplification Act, the notoriously frustrating process of applying for student aid has been streamlined. The Simplification Act removed more than twothirds of the questions on the FAFSA form (PDF). Better yet, the FAFSA now lets grandparents with 529 accounts take advantage of the grandparent loophole to fund a child's education without derailing their financial aid application.

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