In a previous article, we discussed 529 plans as a way to help contribute toward college tuition. In this article, we provide some food for thought before you help pay for your loved one’s educational costs.
Many seniors who want to help their children and grandchildren ask, “How can I help my grandkids pay for college?”
Helping pay for college can alleviate a lot of stress that a grandchild or the parents of a grandchild may be feeling. It also makes the grandchildren happy and gives them the educational tools to forge a career and support themselves for the rest of their lives. This gift is one that many grandparents are not only happy to give, but look forward to.