Am I (as the parent/guardian) liable for tax implications on this account?
No, parents/guardians are not liable for any tax implications on their child's Lansing SAVE account. Lansing SAVE accounts are set up with only the student's name and no social security number. All tax implications are handled through MSU Federal Credit Union and the City of Lansing.
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MSU Federal Credit Union
savings are Federally insured to at least $250,000 by the NCUA
and backed by the full faith and credit of the United States Government.
APR = Annual Percentage Rate. APY = Annual Percentage Yield.
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