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Originally Posted by Fighting Banana Slug
We are in the same boat with my stepson who is now enrolled in university. Many, many ridiculous rules, penalties and fees that were not clearly explained to my wife when she set it up, some 18 years ago. I am sure the rules were set out in the fine print, but it has been a disaster, as the scheduled date of entry into school was off (January and not September?) and numerous forms needed to be filled out. We are still waiting on the first round of funding, which requires 2 months notice and then they have another 2 months to actually do something! I basically feel this type of fund is a scam. Go to a bank or talk to someone like Slava, who seem to actually understand how this stuff should work.
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It does depend on how the program is set-up, but for most plans you shouldn't have this kind of hassle. The plans I set-up are not based on receipts or anything like that and you can specify how you want to have the withdrawals take place (you can take the grants first for example which has certain advantages). Basically you provide proof that the student is enrolled, say how much you want to take out, sign a couple forms and its done.