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Money and Finances
Reply to "New Money Diary in DC - $248k/year"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So her parents pay her kid’s tuition but they get FA? WTH? [/quote] Because they FA is based on their income/assets and not the grandparents. This is common. Middle income parents qualify for the aid, grandparents then pay the bill. [/quote] Wealthy people just pay the bill. When you come from lots of money (even if you are downwardly mobile) you’re not turning your financial data over to whomever in the financial aid office. You tell your parents how much it costs and they put that amount in your savings account or you get it from an educational trust. And if you make lots of money you just pay it yourself. [/quote] No grandparents write checks directly to the school that way it isn’t taxed and does not count against gift tax exclusion.[/quote]
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