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][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 [b]that would otherwise be taken as taxation from the socialized government[/b] that you come from and there is plenty to fund college.[/quote]

Is it though?  I've seen statistics that show here in the US when you factor in how much we pay for health care and college, people in socialized government countries actually get to keep more of their income, and have better health and education opportunities as well.[/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