As students prepare to head back to school, many have questions regarding saving for college.

Jennifer Lane, a certified financial planner with Compass Planning, has answers for NECN viewers.

Patrick in Sudbury asks: "My mom wants to start saving in a 529 plan for our twins. Is that a good idea? I've heard that any savings you have will reduce the financial aid you can get."

Tom in Brockton writes: "My son is going to a cheap school this fall so I'm thinking I may have too much in his 529 college account. Can I transfer the balance to another kid or is it better to withdraw the money? What are the penalties?"

Vivaan in Brookline asks: "My daughter's 529 plan account hasn't done very well. We make monthly deposits but the account balance hasn't budged much over what we have contributed. Can I move to another account like I could with an IRA account?"