Reply to I can't afford to pay for my son's graduate school. He is in high school, BTW.

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Reply to "I can't afford to pay for my son's graduate school. He is in high school, BTW."

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[quote=Anonymous]As been mentioned a number of times already:

Your son will need to be responsible for funding his own graduate school expenses. When I went to grad (professional) school, I had a combination of scholarships and loans. Most of my classmates were in the same position. Some did have parental contribution towards part (but not all) of the costs. Very, very few had full expenses covered by their parents. In medical, law, business school you will find most students are fully funding their education through loans with no parental help.

Your ex is, in his own way, a bit more realistic and generous by offering to partially fund graduate school in a way that would require your son to go to a cheaper school (in-state or lower ranked college with generous merit/fin-aid). As long as there is nothing wrong with the cheaper alternatives, this is probably the best long-term approach as it minimises loans for your son for his graduate education.

Look at it this way, if the differential between two college options is 35k, that works out to 140 over four years. 140k is a very generous down payment for a first property for your DS. 140k invested in the market when your DS is 21 and earmarked for his retirement when he's in his late 60s will pay itself multiple times over. 140k is also a major addition to your own retirement savings. 140k will cover the cost of a master's at an expensive private college, or the bulk of a law degree at a fancy private college.

If I were in your shoes I would be telling DS to go to a good in-state option (ideally we're talking of UVA, WM, College Park, etc) and the rest of the money is going to my retirement. If, ten years down the road when DS is 28, and I feel secure enough with my retirement funding, I'd offer to help out with buying a first property. But that's me. [/quote]

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