NY Times: The Rich Get College Subsides While the Student Debt Debate Goes On (December 13, 2022)

Ron Lieber, in his New York Times article, discusses the implications of student loan forgiveness in the context of “Dynasty” 529 saving plans. His article, “How Rich Families Pay for College Using ‘Dynasty’ 529 plans,” begins as follows:

Ron has been writing about 529 plans for at least 18 years and will start paying for college in about 18 months.

For months now, we’ve been in a nationwide debate over whether we should cancel up to $20,000 in student loan debt for tens of millions of people. Next year, the U.S. Supreme Court will weigh in on the hundreds of billions of dollars at stake — and talking heads will debate, yet again, who is deserving of help in America.

The student debt cancellation program excludes people with especially high incomes. But hiding in plain sight is another federal program — 529 college savings plans — that offers the biggest benefits to wealthy families.

To see the full article, click: “The Rich Get College Subsidies While the Student Debt Debate Goes On”

Posted by Melissa Zheng, Associate Editor, Wealth Strategies Journal.

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