If Kid Decides No College, What Happens to College Money?
What happens to education savings if the child decides to not get an education?
QUESTION: Angela wants to know what she can do with her daughter’s ESA if her daughter decided not to go to college.
ANSWER: Your daughter has until age 30 to use the money in her ESA. If she does not go to college, the money can be transferred to a sibling for the purposes of education. Just remember that it is your money saved in the child’s name and you control it.
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