Reply to Paying for College tuition and expenses

Forum Index » Money and Finances

Reply to "Paying for College tuition and expenses"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Would you advise using home equity for paying college tuition? We don't have any 529 plans and DD is decided to go to OOS college for CS major - $75 -80K/year.

Our HHI 250K and no merit aid. Any other ways you recommend? - Cash from savings? Loans for 401k? Liquidate assets in stocks/mutual funds? Thanks for the advise.[/quote]

It’s unbelievable that you don’t have a. 529 OP. But of all the assets that you mention, my least favorite option is to mortgage your house. I can’t imagine taking out 300K in home equity to pay for 4 years of college. That just sounds crazy. I also wouldn’t borrow against the 401K. If you have liquid or relatively liquid assets that you can cash out, I might do that first and try to cash flow half of it from your income, but you don’t make enough to cash flow all of it[/quote]

Is OP college educated? This may not be something that has ever occurred to OP.[/quote]

A family capable of bringing in 250,000 a year should have the capacity to understand/anticipate college costs before their child has reached the acceptance stage, regardless of whether they went to college themselves.[/quote]

Only in America do kids have to worry about whether their parents decided to save for college or not. [/quote]

It’s actually not that difficult. Just sock away the 15-20% of income that would otherwise be taken as taxation from the socialized government that you come from and there is plenty to fund college.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics