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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We have money, and the plan was in-state tuition at the flagship (with CC and transferring in as the Plan B).

Generous relative threw a wrench into our (read: parents’) plan.

Kid opted to go out of state and loves it there, so now we are evaluating options.

While we can bring some cash to the table, we can’t cover everything…right now. (We will likely inherit some cash that we will use to help pay off student loans, but that will likely be a decade down the road).

I suppose I am wondering what the best options are in terms of loans and where to start.

House is worth $700k+ and we owe roughly $200k. Mortgage is low ($1700/month).

We won’t touch our retirement or investments. (We also both have pensions available down the road.)[/quote]

You are the parent!!!!!! You are in charge when it’s your money funding their lifestyle-they don’t get a say if you can’t afford it. If they don’t want to transfer then they have to figure out how to pay if you can’t.

You really screwed up and are selfish. You overbought an expensive house and refuse to change your lifestyle.   Kid has to drop out.  [/quote]

We bought a $400k house that has appreciated in value over time. Our mortgage is $1,700.

Our kid isn’t screwed.

They can take out loans or transfer in-state.

We will help. We just can’t pay $50k+ each year to cover tuition, etc. outright.

If they live at home and commute to the state flagship, we could fully cover tuition. They just don’t want to. That’s what I’m dealing with currently.

[/quote][/quote]

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