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6 Ways to Help Your Grandkids Pay for College


Anyone who is old enough to have grandchildren remembers when it was possible to earn enough money from summer and part-time jobs to cover college tuition. Now, unless your grandchildren create the next Snapchat or Facebook, that’s probably not going to be an option for them.

Over the past 40 years, tuition has increased at more than twice the inflation rate, straining family finances and forcing millions of young adults to take on student debt. Grandparents are eager to help. A 2014 survey by Fidelity Investments shows that more than half are contributing to a grandchild’s college education or plan to do so in the future.


But helping your grandchildren obtain a college degree is more complicated than mailing them a check on their 18th birthday. Any gifts you give may have tax implications for you (for better or for worse). And if the kids apply for financial aid, your generosity could backfire. Here’s how to help your grandkids foot the bill for college in six effective ways.


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