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[quote=Anonymous][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]

35 years ago you could manage that because college was $20K a year, starting salaries were $20,000 a year and there were fewer college graduates. College costs more than starting salaries nowadays and almost half our population goes to college and vying for that same white collar job. Few kids are making $80,000 a year right out of college.[/quote]

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