Editor’s note: This is the final article in a six-part series focused on paying for education using smart financial and estate planning. See below for links to the previous articles, about direct tuition payments, 529 plans, Coverdell education savings accounts, UTMAs and irrevocable trusts.
Student loans are a common way to fund education, but many may not realize family members can be the source of these loans, not just the federal government or a financial institution. While it is less common, structuring an intrafamily loan may be the best way to help pay for education. This is especially true in periods when the intrafamily interest rates are low.
