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We have started a college savings account for each of the boys - so now anyone who wants to give a gift to one or both of the boys for birthdays, Christmas, or any other reason will not have to ask us for ideas!!! Actually the accounts are called 529 Plans, after the IRS tax law that created them. They are quite attractive for this purpose and we can give more information if you are interested in them for your own children. Every state offers their own version, but only about 10 or 12 were open to "non-US residents", the category we currently fall under. The good news is that the money can be used for any school in any state (or even many schools outside the US) regardless of the state your account is in, and that you can change your account from one state to another easily (after we move back to the US, for example). The most attractive plan for us was the Missouri plan. So if you are interested in contributing, just let us know - it accepts third-party contributions directly, or we can deposit the gift for you. Of course we want the boys to still get toys, books, games, and the like...but this might be a nice alternative if you run out of ideas. |
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