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College and University Discussion
Reply to "Multiple children / paying for college? "
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[quote=Anonymous]I suggest in-state options. If you have good ones, that's your best bet. And urge your kids to do as well as they can in high school, participate in sports, extra-curriculars, music, whatever interests them. Accomplishment in one area is more important than mere participation in many. Colleges do need a flute player, or a kid interested in sculpture or physical therapy, whatever. A kid with good grades and a hook is more likely to get merit aid, even in state. Our DD got merit money from our state flagship because of her grades and test scores, mostly. So it's probably almost as cheap to send her there as to send her to community college, which is an option, but not by any means the only one for OP if her kids do well in school. OOS public colleges will have lower tuition and many offer merit aid, FA, free rides, which will not include loans. Put money into a 529 if you can, OP. It's a good option, as is a Roth, which will shield your savings so you qualify for more FA. The cost of college is totally ridiculous. It's returning to the way it was when my grandfather went to college -- only the rich or super-bright who got scholarships went to college back then (at the beginning of the 20th century.) My grandfather was from a blue collar background, but he got a full scholarship, otherwise he'd never have gone to college. It's great you're thinking about this now, OP. It does take knowledge and planning. You don't want to be saddled with loans, nor do you want your children saddled with loans. Stay far, far away from college loans -- they are a scam that will burden you and your kids for years!![/quote]
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