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529 account

By Terry Savage on September 23, 2022 | College Savings / Student Loans

Our five year old granddaughter was adopted at age three, in IL. I’ve heard that IL will pay her in state college fees, but I’m not able to verify that. We’d like to gift her $5000. We would start a 529 if necessary, or open a custodial trust. Do you know, or have a contact for definitive information on adopted children and 529?

Terry Says

Here’s all I could find
On January 1, 2019 a new law was implemented which says that youth from foster care in Illinois can receive a tuition and fee waiver if they go to a public, in-state college or university. You must be either still in foster care, or have an adoption or guardianship subsidy.
With domestic and international adoption, children likely do not qualify for free tuition to college once they graduate high school or free dual-credit courses while they are in high school. In adoption from foster care, the children do qualify for free tuition to any university or community college in their home state.

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