[QUOTE=gee_ess;1910838]
I love, love the idea of several relatives opening some sort of college account (but something the parents cannot get into until later? not sure what is available) because this gift has class, unlike the parents.
QUOTE]
With a 529 account, the donor stays in control of the money. In fact, the named beneficary has no rights to the money until the donor releases it- so if a child turns out to be a deadbeat, they don't automatically get the money when they turn 18. (and the parents can't cash it out either).
You could always buy them a box of wine and a box of condoms.
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