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Reply to "How to pay for college: specific scenario "
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[quote=Anonymous]Has the spring semester tuition, room and board been paid yet? Your DD should consider taking that $25K and putting toward her in state options. If she won’t agree to that, have you told her how much you can give her going forward? Is it somewhere around $15K? So, her shortfall is $25K. She will be eligible for a $6500 student loan her sophomore year. Based on my loose calculations, she will need $18,500. Is she living off campus next year? Often, that can be cheaper than dorm and cafeteria. You, the parents, will have to co-sign on the remaining loan amounts. Be aware, when your child graduates from college and can’t make her loan payment, YOU are held responsible.[/quote]
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