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.

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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.

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Sandra Block
Senior Editor, Kiplinger's Personal Finance

Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.