Reply to Do most people pay for college out of pocket?

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[quote=Anonymous][quote=Anonymous]I realize many on DCUM are wealthy, but what about vast swaths of the US?
90k for college??! Who is paying this? It is daunting.

Sincerely,
A regular person[/quote]
It could be any combination of below to get to the 90K
529 plans/with good rate of return and having saved since birth
Partially cash-flow and enrolling in 10 month payment plan
reducing contributions for retirement 
Borrowing against home equity
Parent PLUS and federal student loans
Inheritance 
Grandparents helping out
Scholarships  - either college merit scholarships or external

And if you don’t have those items above hopefully you are qualifying for need-based aid at a school with generous meets 100% need aid.  If you do have access to any sort of assets  - schools expect you to spend that down/tap into it first before they give any aid even if as a parent it doesn’t make sense to stop saving for retirement or take out big loans at 53 years old.   Often you see the kid doesn’t go to the 90K per year school if parent loans need to be involved.[/quote]

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