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Financial Planning / Paying For College


Subject:  Re: funding grandchild's college Date:  9/5/2013  2:21 PM
Author:  pinw Number:  8077 of 8536

JAFO, have you filled out a FAFSA lately? They do ask about gifts from grandparents and others and they do count untaxed income. As a parent of a current university student, I find the advice given - to give to the parents, or better, to offer to pay off the loans later - to be spot on. Personally, I would tell the student to take out loans, if they finish with a degree, I would pay them off, or agree to pay a certain amount. If they don't finish, they are on their own for the debt. But the way FAFSA has it currently set up, giving them help while they are in college just saves the system money. I'm not against that, but having the student graduate without a crushing debt load is better.
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