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I want to setup something for my grandson for when he turns 18. Money for college or down payment on a home.
I would like to make monthly contributions of around $100.00. Savings accounts through the bank earn like .00000000000001%. I thought about US Savings bonds but each one would mature x number of years after they would purchased each one.
The Section 529 college savings plan would work but from what I read, if he was to receive a full scholarship, the funds would have to go to another child.
Not really sure of what other options. Any thoughts or suggestions?
I would like to make monthly contributions of around $100.00. Savings accounts through the bank earn like .00000000000001%. I thought about US Savings bonds but each one would mature x number of years after they would purchased each one.
The Section 529 college savings plan would work but from what I read, if he was to receive a full scholarship, the funds would have to go to another child.
Not really sure of what other options. Any thoughts or suggestions?