A short note of thanks - written by hand - should go to EVERYONE who has sent a gift. This note should acknowledge the gift, how it will be useful to you and should be sent as promptly as possible, typically mailed within 72 hours of receiving the gift.
Example:
Dear Aunt Diane,
Thank you for the check that you sent me for my graduation. As you know, I will be starting school soon at the Univerity of Washington and your generous gift will go a long way to help purchase text books and supplies. I hope to see you soon to thank you in person soon.
Love,
Jason
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