can a grandparent open a 529 plan for a grandchild
- Grandparents can open 529 plans, which are qualified tuition plans designed to save money for their grandchildren's college costs.In fact, the practice is common. SavingForCollege.com notes that hundreds of thousands of grandparents have adopted the practice and opened 529 plans for their grandchildren.The 529 vehicle provides grandparents with a way to save important funds for their grandchildren in an account that the grandparents can control and manage.ultiple Grandchildren and Multiple Plans. A 529 plan can only have one designated beneficiary, preventing grandparents from opening a single 529 plan for all of their grandchildren. However, they are free to open separate 529 plans for each of their grandchildren.