How Unwary Grandparents Can Wreck Your College Financial Aid

http://www.dailyfinance.com/2013/03/07/college-financial-aid-529-plan-mistakes-grandparents/

 Thanks to the ever-rising cost of a college education and the stagnation of middle class incomes, fewer and fewer cash-strapped parents are able to shoulder the burden of college costs all by themselves. Often, that's where generous relatives come in.

Last month, the AARP teamed up with financial-services company TIAA-CREF to provide information about college savings plans, also known as 529 plans, to AARP members. As TIAA-CREF CEO Roger Ferguson Jr. said in a press release, when it comes to college savings, "getting the entire family involved -- parents, grandparents and children -- reinforces the importance of setting and achieving savings goals."

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