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Reply to "helping out my half sister college tuition"
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[quote=Anonymous]Tuition + R&B at Chicago is about $70K. Your sibling's financial package would be based on your parent's income. Federal student loans are $5500 for freshman year. The balance owed will come from cash from your parents and loans that your parents must co-sign. Are you willing to pay the parent loans? If you want to help your sister (really generous offer BTW), come up with a sum of money you are willing to pay. I would have a conversation with parents and sister. I would also get some financial advice. You don't want to jeopardize any financial aid she would receive. You should probably pay school directly to avoid the gift tax.[/quote]
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