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College and University Discussion
Reply to "Cashing out home equity to pay for college"
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[quote=Anonymous]Did you confer with your child's guidance counselor during the application process? Perhaps you were hoping to receive more aid (merit or need). What state are you in? What schools did she apply? Major? Keep in mind that the tuition amounts that you listed will INCREASE every year. Your DD will only receive $5500 in federal loans for her freshman year. That means YOU will have to secure loans for the remaining amount. YOU will be responsible for the repayment. I would not incur this debt for you or her. That's crazy. I would seriously consider community college for 1 or 2 years. Much less money.[/quote]
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