Back to School: The New Parameters of Funding a Grandchild's College Education.

The article discusses the different approaches and considerations involving grandparents who want to finance their grandchildren's college expenses in the U.S. Several factors that are considered relevant includes income taxation, gift taxation, Medicaid implications and the financial aid ramifications. Moreover, the college funding mechanisms which include college savings bonds, prepaid tuition plans, college savings plans and the Coverdell Education Savings Accounts have been discussed.