FASFA Rules on financial assistance from Grandparents
I read a recent article stating that grandparents assistance with finances will not affect the student’s financial aid eligibility. What is the best way to gift money for my grandchild’s college expenses. Do I give up to $18,000 to a parent or to the grandchild?
Terry Says
NO! If the child is still in high school, open a 529 College Savings Account!
529 Plans Even Better Now – Terry Savage
But if the child is already in college, you should pay tuition and room and board directly to the school bursar, so it doesn’t impact any other financial aid or scholarships.
