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[quote=Anonymous]What if you had the kids transfer to public school now, the college bound kid must take out loans with the understanding you'll help repay down the road if possible, and rent out your basement. Then tell the whole family it is time for a major financial diet. No cable, no eating out, but with the understanding that this is the way you can avoid moving. With discipline I bet you could shave $1k from your monthly budget. I think the financial advice on this thread has been very good, but there is a psychological cost here as well. Especially with four kids in their formative years. It matters. I am far from a financial analyst, but it seems to me you could save 40k a year by using public schools, and maybe pick up an extra amount through renting your basement that would cover that high cost second mortgage. You would free up a total of 50k a year that could go into retirement. (Or, for the first three years, could be used to pay off the 2nd mortgage). [/quote]
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