Co-signed student loan- Sue the borrower?

[Souschef]

Ah, thanks. I never understood that properly. I had always thought that over (currently) $15K in a year to an individual was taxed that year. Thanks for clearing that up for me.

Anything over 15K person to person requires a form 709, but no tax due. However, if you are a married couple giving to a married couple, you can actually give them 60 K a year without filing.
As an example Husband gives 15K each to son and DIL, Wife gives 15K each to son and DIL. Total=60K