My parents basically told me today that if I don’t use all of the money in my 529 plan with American funds that I’m on the hook to “repaying all of the money back”. I was shocked to hear this as I never heard of such a thing. I tried looking online and calling Capital Group but because of the holidays no one is available. They said I have to go for my masters to use up all the money but I believe they’re just trying to scare me into going to grad school I’m a junior btw. I could easily use up the rest of the money by senior year but they’re refusing to put all of the money in there. Thoughts? Is this true? I thought there would just be tax implications.
Edit: not sure if this is the right subreddit to post this but anyone with any type of information would be very helpful! I’m a beneficiary
Submitted December 24, 2020 at 04:29PM by SnugPugXxy https://ift.tt/3aEVyTc
