borrowing from family

rrah
Mon, 28 Apr 2008 09:36:45 +0000

How would the college know that the money is borrowed from a family member?

To protect yourself and your in-laws, I would recommend writing up some sort of loan agreement with amounts, due dates, interest, etc. That will also go far in showing that this is a loan. Your in-laws assets will not be figured into the family contribution.