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[quote=Anonymous][quote=Anonymous]Not sure if this should go in the finance forum.

My niece wants to attend a college that cost about 34k for tuition and 10k R&B.  Niece (brother's child) was left a $100k trust/insurance from his x-wife that died 6 years ago.  Fund controlled by aunt (deceased wife sister).  My brother is unemployed (laid off 7 months ago), but looking for work.  I don't know all the details about what he has saved and all of that, but niece told me that FAFSA said they could afford to pay $31K.  That seems hard to believe.  I think his income last year for about 65K and he has two other school age children.  He says he only has about 10K a year to contribute.

My niece and brother are wondering is better to use the trust money to pay tuition balance or get student loans and save the cash for other things or emergencies?

I don't know much about this stuff and paid for school with student loans.  Any advice is greatly appreciated.[/quote]

100k is not going to go a long way!

I made way more than 65k and my EFC was 27k, so those numbers r wrong.

I would say use a mixture of cash and loans, however, do not borrow more that her first job expected salary. Take his 10k, some from inheritance, and some from loans.

Encourage her to choose a viable major, and not a hobby major. GL![/quote]

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