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College and University Discussion
Reply to "Turning down a much higher-ranked/more prestigious school"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My kid is turning down an $90k school, 6 hours away in the NE, for a dirt cheap tuition at a small VA school that most people sh-- on here. [b]DC will grad debt free and have >$200K available for grad school. [/b] I agonized over it but, in the end, this makes a lot of sense. The biggest thing in this will be dealing with other peoples' reactions but . . . meh. [/quote] Are you speaking literally? Meaning, you will provide the kid $200k if they attend graduate school, but if they don't attend graduate school...they get $0? Folks always phrase the less prestigious, cheaper option in these terms...almost like they now have to to grad school to make up for the undergrad. I don't think you mean that, but that is how it reads.[/quote] Kid will have an unused $200K in the 529 b/c of the chosen school's tuition/merit aid. [/quote] What if he doesn’t want to go to grad school?[/quote] 529 can be used for living expenses, which can account for a chunk of it, converted into a Roth IRA retirement account for the child, or transferred to other children/nieces/nephews/grandchildren. There's more flexibility in there now.[/quote]
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