Reply to ISO advice on whether to fill out the FAFSA form - 529 in grandparent's name FBO the grandchildren

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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]As an aside, this is why, when my inlaws wanted to set up a college fund for my kid, I politely told them that I'd prefer that they contribute to the one we'd already set up (and that they should feel free to deduct from the amount they wanted to contribute any state tax benefits they'd be losing by contributing to our account).  It is *our* responsibility to pay for our daughter's education.  I have no reason to think that they would have backed out, or played games . . . but they have multiple other similarly-aged grandchildren whose parents make far less than we do.  I didn't want to be in a position where funds I'd been relying on were suddenly yanked.  For planning purposes, I was going to ignore any college funds not under our direct control, but that likely would have resulted in significant oversaving.

Not criticizing, OP - it doesn't seem like your mother would have been amenable to that, and it's all worked out in the end.  But I have known numerous other parents  who relied on others to pay for their kids' college, only to find that either the promises wee conveniently forgotten or the money had been repurposed.  [/quote]

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