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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Most schools' financial aid applications ask whether anyone else will or can pay tuition.  This is presumably to prevent FA from going to families where grandparents will pay in full anyway.[/quote]

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.[/quote]

You are also obligated to report gifts for most schools.  Level of detail on applications is very high and varies by school.  [/quote]

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA. [/quote]

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue. [/quote]

I’m the PP and I agree. If they’re trying to save money, they don’t have grandparents assist at all with tuition and then have grandparents pay for college or just inherit the money. It gets more complicated once grandparents contribute if they’re trying to get FA. [/quote]

OP most likely got the brownstone through inherit money. You think the school couldn't figure it out? [/quote]

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