Expecting our first child in March 2021. We are considering a 529 plan for the kid. We are from India and like many others, my husband and I are both on H1Bs with a definitely long way to go for a GC. Given the uncertainty of immigration, how did everyone else decide if they should have a 529 and what amount are you contributing to it? Thanks in advance :)

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Great question..irrespective of what staus you have. Your child will be a US citizen. I am contributing 250 a month and an extra 1000 for birthday and diwali each.

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Mine and my wife's brokerage accounts...UTMA / UGMA will qualify as the child's assets and has a bigger impact than 529 on their ability to get aid. So don't do it. I would recommend a robo investor brokerage in your or wife s name.

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Pwc: are you saying 529 is a bad idea? I only have 401k and have no 529s for my kids.

Thanks for the info.

Don't do it for the tax benefits you get now. Look up what you can use it on. Its limited and you don't know whether they will get scholarships or if legislation will change by then regarding student loans or FAFSA. I've chosen not to do the 529. Rather just put the money in a bank account or open up an investment account and buy some stocks / mutual funds, and let it grow.

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