<prompt> Human: I am 21 years old, and will be starting medical school in the fall of 2020. My grandfather wants to pay for this, but does not know what the best option is tax-wise. Is a 529 plan a good option? He is 88 and is worried that he will pass away before school is paid for since he can only contribute 14k a year. What is the best move?  <response>: He can gift unlimited amount if he pays the school directly. He can also just give you the money in one go and file Form 709 for the amount above 15k. 