Tag Archives: 529 plan

How to Help Grandkids Pay for College

From Rick Kahler

One financial goal held by many of my clients is to help pay for their grandkids’ education. This generosity can foster gratitude and family closeness. Unfortunately, it can also foster resentment and family misunderstandings. Here are some suggestions for helping with grandchildren’s college expenses in positive and supportive ways:

1. Be fair. This doesn’t necessarily mean giving each child the same amount down to the penny. It’s perfectly fine to consider factors like various family’s incomes or kids’ different abilities and career goals. One possibility might be to define “fairness” as helping grandkids to be on a reasonably equal financial footing when they graduate. Continue reading

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