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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of parents (and grandparents) just pay cash along the way and many let the kid take out $5k yr in loans. It’s really not that uncommon. Uncommon is this internet myth that everyone has a fully funded 529. [/quote]

$5k/year is acceptable (20K for college), but [b]why take it if you don't need to?   Why saddle your kids with loan payments if you can afford not to?[/b]

I get that most do not have a fully funded 529.  If we didn't my kid would work hard during all breaks (just like I did) and work part time during university (just like I did with 2 intensive majors that I did)---note my kid will work during summers, but wont be required to work PT in college.   But as responsible adults, if you are making over $200K/year, you can most likely find a way to save something, except for extreme circumstances.  I don't get why people waste $$ on non-essentials when they have not saved for college.  When daycare ends, funnel that $$$ into a 529.   Because your kid will not likely get financial aide, so why not plan and make your family life easier for kids at college age?  [/quote]

I heard some parents saying it was because the loans might be forgiven.  If you can get $10K forgiven, you need to take the loan in the first place.[/quote]

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