Correct. Gifts received do not have to be reported as income. Gifts given to others have to be reported only if in excess of the annual gift giving limit (but this is the grandparents responsibility, not the parents or student).
Correct. Gifts received do not have to be reported as income. Gifts given to others have to be reported only if in excess of the annual gift giving limit (but this is the grandparents responsibility, not the parents or student).