In summary:
Pay the school directly, no tax consequences (tuition is exempt from gift tax)
Give money to your child $14K per parent. $28K if parents are married. $28K unmarried parent, married child. $56K married parents, married child+spouse.
In summary:
Pay the school directly, no tax consequences (tuition is exempt from gift tax)
Give money to your child $14K per parent. $28K if parents are married. $28K unmarried parent, married child. $56K married parents, married child+spouse.