@neiloy run your scenario through the IRS app to determine whether your 26 year old is a dependent.....just because your child is 26 doesn't mean he is not a dependent...
https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent
when educational gifts are made directly to the educational institution, the "normal" gift limit of $17,000 doesn't apply. The payment to the University is considered a gift with no reporting or tax implications.
