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[quote=Anonymous]It's a financially unsound decision.

Borrowing limits for financially-eligible undergrads with lower interest rates start at 5K for the first year, and end at 7K for the 3rd and subsequent years. If the student is not financially eligible because his parents are rich but just refuse to pay... the interests on the loans will be higher, but the amount they can borrow will be higher too. Some of those loans may need to be cosigned by the parents.

Sticker price for my oldest's private university is 92K a year now, total cost of attendance. Many privates have reached that price now. He gets merit aid that brings it down to 65K, and we can afford it, but it's still an insane amount of money.

In-state universities: UMD costs 30K+ and UVA 40K+ a year, total cost of attendance.

Montgomery community college is maybe 10K max for a full load of courses, after which they still need 2 years of state college.

If your household qualifies for financial aid, the price will be reduced, but they still won't be able to pay it themselves with a job, unless they're in community college.

You must put your husband in front of the numbers. He's batshit crazy and doing his children a huge disservice if he wants them burdened with huge debt for decades of their lives. What was the point of having kids if he's going to abandon them at this critical moment? Parenting doesn't end when the kid becomes a legal adult.

I utterly reject his premise, and yours, that making then pay the full or a partial amount teaches them responsibility. If your kids are not responsible now with what you give them today, forcing them to pay for college will not fix that. It will just ensure they get trapped in the lower middle class. I don't know if that was a failure of parenting or they were born like this... but your husband's solution is not going to help.

If he goes through with this, I really hope your kids never come near him or lift a finger for him ever again. He can die alone.[/quote]

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