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College and University Discussion
Reply to "s/o What is a reasonable college expectation for the "normal excellent" student"
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[quote=Anonymous][quote=Anonymous]"Check the rules. There's typically a look back provision, and you'd need to live there for more than a year before your child would get in-state tuition." Even beyond the rules, you would have to live in the new state for a total of 4 years. At the outside, leaving merit money on the table because the exact schools would determine which was better and worse, the difference between $64K for Berkeley and $26k UMd or $32k UVa is less than $160k. By the time you set up a second household, is it really worth it? Wouldn't it be easier to find a part time job or put you career in overdrive during those 4 years to make up the difference?[/quote] We live in VA. MD is easy enough. Buy an TH, drivers license, utilities, etc. Rent most of it and keep a room and continue to live in VA. Taxes (work included) will be at that address. I've seen it done. Keep the TH as a rental after the 4 years are up or sell. This would cost us about $500/month (for the room we would retain). NC - is one of our target retirement destinations. More difficult to do the above. Buy our retirement home (we'll need that soon anyways), driver's license, utilities, etc. Rent the home in the summer months for some income. Otherwise, either live there or leave it locked up. DH's job is flexible in terms of location so not an issue. Haven't seen this done however so might be a stretch. Michigan and Cali are def. more difficult to do this. I'd rather pay the difference.[/quote]
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