Grandparents can pay the college directly to avoid gift tax implications, though the funds cannot be given to the student first. 3. Maximize Financial Aid Financial aid can significantly lower out-of-pocket costs:
Tuition is often just the baseline. To avoid surprises, your budget should account for: college bills
Technology fees, lab fees, and graduation costs. Grandparents can pay the college directly to avoid
Prepare to Pay College Bills With 529 Savings Plan - Kiplinger or off-campus rent
On-campus dorms and meal plans, or off-campus rent, utilities, and groceries.
Health insurance, renters insurance for tech (laptops/phones), and security items like laptop locks. 2. Strategic Payment & Saving Options
Before the first bill arrives, consider these methods to reduce the immediate burden: