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College and University Discussion
Reply to "High income but 3 kids in college at once- financial aid"
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[quote=Anonymous][quote=Anonymous]On your 475k income you can pay out of pocket for two kids each year. (150-160k). Interest rates are low so take a second mortgage to pay for the third. Once the first two graduate, aggressively pay down the second mortgage, which you can do in two years. So it's six years of living simply and devoting most of your income to college bills. Once those six years are over, you're in the clear. Is it worth it? Up to you to decide. In your shoes, and with no other savings, I'd be looking at state universities and merit aid to cut costs as much as possible. I don't find the expensive private LACs worth the money. And I grew up in that environment (they're great schools, but not at $80k/yr). [/quote] +1 Most 'productive' post yet on the topic.[/quote]
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