Reducing retirement to help pay for college

[Anonymous]

OP here. Thanks to everyone for their input. Sounds like I may be overthinking this.

Current thoughts:
- DC continues job.
- Have DC take out federal subsidized loans. Feel strongly about not taking out Parent Plus loans.
- Use what's in 529.
- Cut back on expenses.
- Still contribute to retirement at least whatever is needed for match in both parents 401ks.
- After that if we still need to reduce contributions, it seems like there are varying opinions and will think more on this.

In-state schools are definitely on the table. Also, grandparent contributions and inheritance (less than a million) are possibilities.

[Anonymous]

Anonymous wrote:For the people recommending student loans, students can take out a max of 27K in total over four years. So sure, have them take that out but it's not likely to bridge the gap.

We're going to be in a similar boat, will have my husband reduce because my company's match is 50 percent up to the full contribution.

That's the problem. The cost of education hasn't reduced despite the fact kids can no longer take exorbitant loans. The responsibility for taking the loans falls on the parents now. Also your social security is sacrificed for federal loans if you don't pay them. I state tuition even at a state school is pretty significant.

I would temporarily reduce my contribution while I'm paying tuition on different than I had to when my kids were in daycare. I would also encourage my kid to go toba state school and live at home.

[Anonymous]

Partner B should reduce her contribution, since she has more time to make it up (and will feel it less).

Don’t withdraw from your savings, but contribute less for a while.

Hopefully, your kids will get some merit aid also.