Ask Terry Questions Children’s student loans

Children’s student loans

By Terry Savage on January 14, 2016 | College Savings / Student Loans

Hello, I have 2 daughters and I’m helping them pay student loans off, I give them each 500 dollars a month and they match it, is this the smart way to do it?

Terry Says:  As long as you can afford to do this without impacting your own lifestyle or retirement, it is very generous of you.   There are no tax implications for doing this.  Just make sure they ARE matching your monthly gift out of their own salary.  They are working, aren’t they??



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