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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What are you trying to avoid or trying to get with all these unnecessary transfers? [/quote]

* Our income is too high to get any need-based aid anywhere but the more expensive schools, in that our expected family contribution is $50K-ish.  But it is ONLY that aid that would make it possible for one of our kids to attend an elite school. Because we don't have enough money to pay anything more than that (even with the grandparent's' 529.)

* From what I read, if grandparent pays tuition through their 529, it will count as the student's income. The student will need to file taxes, and then we may not qualify for any aid the following year, because a higher percentage of the student's income is counted toward the expected contribution.

* I think if we pay from a 529 of our own it won't count as student income?

Do I have this correct?   We really can't pay more than our current expected contribution.

[/quote]

Keep in mind that only elite private universities that are nearly impossible to get into give any substantial grant need-based financial aid. [/quote]

Yes, my DC totally had the stats for one of these schools, but didn't get accepted. When we used the calculators on the schools' websites, our expected contribution varied between 41K and 52K, but these are schools whose full cost is $77 K so it makes a big difference. So while our first DC wasn't accepted, and if she stays at state school, this won't be an issue. But we have two more kids coming who might get into an elite school, or our first might transfer. I want to leave the option open, if possible. [/quote]

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