Tuition at, well, almost anywhere, is going to quickly max out the amount of "gift" money you can give to someone else without tax implications (that's $15k, and a prestigious STEM school is likely to be 4 times that, easily). 529s are great, but, again, talk to a financial planner, as there are weirdnesses sometimes, especially if you're making a 529 in a minor's name that they won't be able to access for a couple of years.
I suspect that a family well enough off to have multiple houses and fancy cars and such knows this, but it bears repeating, just in case they don't (and also for the less well off family, who might not know this).
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Tuition at, well, almost anywhere, is going to quickly max out the amount of "gift" money you can give to someone else without tax implications (that's $15k, and a prestigious STEM school is likely to be 4 times that, easily). 529s are great, but, again, talk to a financial planner, as there are weirdnesses sometimes, especially if you're making a 529 in a minor's name that they won't be able to access for a couple of years.
I suspect that a family well enough off to have multiple houses and fancy cars and such knows this, but it bears repeating, just in case they don't (and also for the less well off family, who might not know this).