Your clients oldest grandchild is nearing college and they have been talking with the grandchilds parents about college funding. The child is beneficiary of two 529 plans, one owned by the parents and the second owned by the grandparents. Assuming the child may be eligible for financial aid, which of the following is true

1. Assets in the grandparent-owned 529 plan will be included in the financial aid calculation (FASFA). 2. Income distributed from the grandparent-owned 529 will be counted as the childs income.

3. Assets in the parent-owned 529 plan will be included in financial aid calculation as parents assets.

4. Income distributed from the parent-owned 529 will be counted as the childs income.

a. 1 and 2

b. 2 and 3

c. 3 and 4

d. 1 and 4