CPT- I’m not being argumentative.
But for the sake of clarity- yesterday the kid was from a low income family and had no assets. Today the kid is STILL from a low income family but has 100K available to pay for college.
How is he worse off? MAYBE he’d get a big merit scholarship which only goes to low income kids (but maybe he’d be third runner up and get a check for $100 and a photo Op). Maybe he’d qualify for more need based aid, or maybe he’s applying to schools which gap, or offer the Pell, federal loan and a “good luck, kid” because they don’t meet full need. In any event, if he uses ALL of his money to pay for college for freshman and sophomore year, he’s back to being needy junior and senior year, and presumably qualifies for need based aid then.
What am I missing and how is inheriting 100K EVER a bad thing? Colleges don’t charge MORE when you have money, it’s that they can (but not always) charge you LESS if you don’t have it. Why not go for the sure thing- 100K available for tuition, less whatever the kid can legally stash in an IRA if he’s got earned income?