Anyone experienced with 529 College Funds?

Relative wants a one time lump payment into college funds for G-kids. But everywhere she looks, they are designed for monthly pymts.

She can’t find one for a single payment.

Any advice?

We have been contributing to Virginia 529 accounts and at times have done lump sum contributions. Perhaps her state has restrictions. Per the saving for college web site " Most plans allow you to set up automatic recurring deposits from a linked bank account, but it’s not required. After you make a minimum initial contribution requirement (sometimes as low as $25), you can invest as much as you want, whenever you want. You may choose to make lump sum contributions around birthdays, holidays, or other occasions".

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Has she looked at the Utah plan? I have money there and don’t recall not being able to do a lump sum, but I haven’t looked lately.

1 Like (Utah) will accept any sort of contribution you want. I do monthly, but also occasionally put in a lump sum.

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I do monthly payments but each of the several plans I contribute to has a section for “gifts” or similar terminology. That section is set up for random lump sum deposits such as for birthdays or holidays or whatever. Sometimes it does require a little digging to find it but I expect it is there. It usually has the word grandparents associated with it so you might use that as a search term on the site. :grinning:

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No 529s left, but dealt with them for my sons. My parents set them up, and funded them…no recurring payments involved at all. Both kids had Arizona plans. With my older child I rolled his into a different plan when he took a long break from school.

What state?

Oregon state