Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

Not nearly enough for most T20 schools

Lots of good advice here. A lawyer can help you. I would not make a donation. That just doesn't feel right. Colleges should love her for what she brings to them, so maybe use some of it to dabble in new and unique activities/endeavors as well as tuition, tutoring and a decent college advisor (don't think you need to drop 50k).
Also, spend some on college visits. That could be fun.

I would do dorms but maybe buy a property when upperclassman.

Invest rest for grad school or other educational activities later on or to be passed on to the next gen.

So nice of Gramps to look out for her.

Anonymous wrote:

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

OP, this is terrible advice. $250k buys you nothing.

that's actually true for Harvard where i went. You need to be high six figures or seven. We couldn't afford that and out high stats kid was waitlisted

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

OP, this is terrible advice. $250k buys you nothing.

If you know so much, how much would OP need to donate? 1M? 3M?

I don't know, maybe $25M gets you face time with the university president, which may help you? What I do know is that plenty of families at our private school would happily pay a $250k fee on top of full pay tuition to get our kids into our top choice, my family included.

He probably thought there would be more grandchildren. Her kids can use the $.

If it were me I'd put the principal into an interest bearing acct. right away, one can be very conservative with that amount, so say a 5% interest acct. Then I'd fund DD's education (private HS, college, grad school, private counselors and tutoring) with the interest earned while preserving the principal. DD can then later utilize that account for her own family and keep the cycle going. $5M if not touched for a year at 5% will throw off $250K interest. Of course OP would use some for private HS but there is still more than enough to do this.

$5,000,000 @5% in Yr 0
$5,250,000 Yr 1
$5,512,500 Yr2
$5,788,125
$6,077,531
$6,381,408
$6,700,478
$7,035,502
$7,387,277
$7,756,641
$8,144,473

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

OP, this is terrible advice. $250k buys you nothing.

If you know so much, how much would OP need to donate? 1M? 3M?

DP here. $10M to top tier.

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

If this was true, Lori Laughlin and felicity huffman would have done this rather than what they did.

The trust will state the terms of use and what happens to the leftover money.

Anonymous wrote:

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

OP, this is terrible advice. $250k buys you nothing.

If you know so much, how much would OP need to donate? 1M? 3M?

Anonymous wrote:This is an amazing opportunity. You should make a ~250K donation to whatever her top choice is. That is a guaranteed way to secure acceptance.

OP, this is terrible advice. $250k buys you nothing.

If she's an academically driven and gifted student, start early to prep her for applying to HPSM, Columbia, Duke, Yale, etc. You're in a very lucky position to be able to afford the best-of-the-best education!

Not clear if this is a legal requirement only to spend on education, or a moral one. If not a legal issue, consider:
a) defining 'education' broadly. (International travel aimed more at understanding than tourism), and
b) setting up a trust for your kid's kids. (Imagine how liberating it would be for her in adulthood not to have to save for her own kid's education.).

Get her a 24/7 on-call tutor!

Anonymous wrote:Is she allowed to keep the leftover money after she receives her education? If so, maybe use 1M and save the rest in a trust fund. Definitely consult a lawyer.

Yes, definitely consult a lawyer to find a way to set up a trust so she won’t have access to all of it as soon as she turns 18. Yikes.