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Reply to "ISO advice on whether to fill out the FAFSA form - 529 in grandparent's name FBO the grandchildren"
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[quote=Anonymous]I think grandma may very understandably be reeling from sticker shock. If she hasn't been paying attention she may have had NO IDEA that private schools were charging $70,000 a year for tuition, room and board. She may have thought is was closer to 40,000 and may have basically been thinking that say $160,000 of what she had saved for each child would be more than enough, and then the remaining $65,000 would remain for her own use. Or whatever she was thinking. She probably just thought she had plenty extra in there, even with the penalty.[/quote]
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