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Smart Savers Blog

College Savings 101

How a Grandparent-owned 529 Account Affects Need-based Financial Aid


The cost of college has risen so high that many families are relying on two generations to help cover expenses. Many grandparents, though, become concerned that their 529 contributions will adversely affect their grandchildren in the federal financial-aid process.

Resources to help you learn

Virginia529 offers free, in-person information sessions at locations across Virginia. These hour-long sessions highlight the program’s three plans, explain the benefits to account owners and give you the chance to get your questions answered. If you don’t live near one of our in-person sessions, Virginia529 offers online webinars where you can learn more from the comfort of your own home.