Funding a Grandchild's College Education

34 Pages Posted: 25 Sep 2001

See all articles by Richard L. Kaplan

Richard L. Kaplan

University of Illinois College of Law


This article considers various techniques that grandparents might use in helping fund their grandchildren's college education. The techniques analyzed include outright gifts, college savings bonds (both state and federal), prepaid tuition plans, so-called section 529 college savings plans, and education IRAs. Each technique is analyzed from the following perspectives: income taxation, gift and estate taxes, control over the funds, eligibility implications for Medicaid long-term care benefits, and impact on needs-based financial aid.

Suggested Citation

Kaplan, Richard L., Funding a Grandchild's College Education. Journal of Retirement Planning, September-October 2001. Available at SSRN: or

Richard L. Kaplan (Contact Author)

University of Illinois College of Law ( email )

504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
(217) 333-2499 (Phone)
(217) 244-1478 (Fax)

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