Reply to How to pay for college: specific scenario

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Here's what I would do in your position.  Explain to kid that you only saved enough for in state.  So give him two options:  1) transfer and go in state for free or 2) you pay for next year out of your 529 and kid takes out loans for the following two years.  It's a great deal.[/quote]

Correct. That’s basically what we are discussing.

I was just hoping someone might have navigated the loan options and would weigh in.

[b]I recognize I will need to finance it if that’s what my kid chooses. But I won’t do that unless they realize it’s a debt they’ll be on the hook for. [/b][/quote]
35 years ago I was in a similar situation.
I got accepted to a private school that I really wanted to go to.  If I went In-State, it would have been free as we qualified for Pell Grants.
My parents took out a HELOC that I needed to make the payments on that covered the difference between the aid that they school offered and tuition.  
I hustled all summer - every break - during the school year etc. to make sure I never missed a payment[/quote]

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