Reply to $5M for college education

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[quote=Anonymous]You need to talk to the attorney to understand exactly what the terms and conditions on the funds are. If it’s truly restricted it’s probably already in a trust. Once you understand that, you need to find a fee-for-service financial planner to figure out how to manage and invest whatever money you have access to. (You may not have access to very much money directly if it’s already tied up in a trust).

Do NOT make some big donation to a college in hopes of buying your way in. She will be a full-pay student at any school she’s qualified for, so she has options for small private colleges that suit her talents and educational desires. You can afford $80k a year which many can’t.

Focus on working with the school you are in now to set her up for success in college and get whatever tutors she needs to get the grades and scores to place her in the running. Have her take a summer program on a college campus that interests her so she can get a taste of college and living away from home. [/quote]

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