Grandparent 529

nomoneytree
Fri, 14 Aug 2015 19:30:53 +0000

Ok, so then I am understanding that she should gift money to parents at a max of $14,000/per person annually. We would not claim on our taxes or on FAFSA. It would not count as income to my daughter since she is not being given money directly, so I don’t report on FAFSA.

I still have the 529 that I need assistance with also. So can I withdraw $3,500/year for college related expenses and pay to school directly/student or parent? This disbursement would be reported on FAFSA as income to my daughter (grandparent is account holder with daughter as beneficiary). How does her part time job play into the financial aid equation?