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Financial Planning / Paying For College
|Subject: Re: Paying for College and Aid||Date: 2/26/2013 3:56 AM|
|Author: foo1bar||Number: 8030 of 8098|
But the younger is not allowed to make a gift in that manner, right?
And you're asserting they aren't allowed because...???
IMO it certainly seems a bit shady - possibly fraudulant about whose money is whose w.r.t. statements made on the FAFSA.
But assuming they are really gifts, and the youngest could do anything he wanted with the money, I don't think there's any reason he couldn't pay part of older sibling's college bill...
JMO - but if it's possible, I'd go with giving the money to the grandparents and they can even pay the college directly (so no gift tax implications for them)
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