Quick question on grand parents contributions to school ….

[Anonymous]

Nobody talks about this in my DC school. How common is this? Do grand parents typically contribute a chunk of money towards tuition?

I was curious how does this work in US.

[Anonymous]

It's incredibly common.

[Anonymous]

never heard of it myself of current friend group. we'll be able to do this for our grandchildren

[Anonymous]

OP why do you have so many quick questions about things you were just wondering? Tuition… financial aid… grandparents…

Please stop with these threads.

[Anonymous]

Does your school not have a “Grandparents and Special Friends Day”?

[Anonymous]

Anonymous wrote:OP why do you have so many quick questions about things you were just wondering? Tuition… financial aid… grandparents…

Please stop with these threads.

Please send a list of threads that are of your interest so I can start posting.

[Anonymous]

Anonymous wrote:Does your school not have a “Grandparents and Special Friends Day”?

Yes. But that day doesn’t imply a financial contribution. At least for some families.

[Anonymous]

It’s a very common wealth transfer strategy to minimize inheritance tax.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does your school not have a “Grandparents and Special Friends Day”?

Yes. But that day doesn’t imply a financial contribution. At least for some families.

It shows how common it is for grandparents to pay. And how important having generational wealth is at these schools.

[Anonymous]

Anonymous wrote:OP why do you have so many quick questions about things you were just wondering? Tuition… financial aid… grandparents…

Please stop with these threads.

Is someone forcing you to read DCUM!?!

[Anonymous]

Anonymous wrote:It’s a very common wealth transfer strategy to minimize inheritance tax.

"very common" /s

[Anonymous]

It's common among rich people. Not common among poor people who sre trying to live off Social Security and small nest eggs.

[Anonymous]

Anonymous wrote:Nobody talks about this in my DC school. How common is this? Do grand parents typically contribute a chunk of money towards tuition?

I was curious how does this work in US.

If you have sizable wealth that you’re going to leave to your grandchild eventually, it lowers the tax if you pay for the tuition directly now than to transfer the wealth as an inheritance later. See a CPA or wealth manager.

[Anonymous]

Anonymous wrote:It's common among rich people. Not common among poor people who sre trying to live off Social Security and small nest eggs.

Thanks Cap’n Obvious.

[Anonymous]

How this is squared with financial aid. Grandparents contributions have to be reported or alternatively this can be considered a private family business.