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College and University Discussion
Reply to "For parents who are primarily paying for college with non need based loans..."
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[quote=Anonymous]No, not everyone on DCUMs is rich - we are a family of 5 and our HHI is 110K. Two of our adult siblings told us that they took out private loans through their Discover credit card for their kids to pay for college (or something like that - it was definitely Discover). So yes, it's a thing. But we haven't taken out private loans and don't plan to. We have two in college, one in high school. One of our kids goes to our state school and another goes out-of-state to a public university that offered enough aid to make it cost the same as our state school. Both kids will graduate with around 30K in student loans which we plan to pay off for them or at least significantly help them pay off. We aren't comfortable taking on more debt than that. Both of our kids turned down offers at higher ranked colleges (top 25) that would have cost more. We feel that our kids each picked the school that hit that sweet spot -- good education, affordable, good location. [/quote]
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