The Motley Fool Discussion Boards

Previous Page

Financial Planning / Paying For College

URL:  http://boards.fool.com/if-it-is-in-the-youngest-kids-name-now-then-it-30562021.aspx

Subject:  Re: Paying for College and Aid Date:  2/26/2013  1:12 AM
Author:  pinw Number:  8029 of 8206

If it is in the youngest kids name now then it won't effect the Fafsa for the older kids. Later if it is in the older kids name then it won't effect the fafsa for the younger kids.

This would seem to suggest gifting money to the youngest to reduce the value of the parents savings, then paying for the older child's tuition with it, then gifting the graduate to pay for the younger. But the younger is not allowed to make a gift in that manner, right? In other words, you can benefit from one of these - but not both. And while giving money to the younger will reduce the amount of cash available for the elder's tuition, but the younger will just end up paying a bigger portion of their own tuition to make up for it. I don't see much of a benefit.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us