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Reply to "How to pay for college: specific scenario "
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[quote=Anonymous][quote=Anonymous]Let me see if I have this right. The aunt gives a one time gift and it pays for your DD’s freshman year (OOS state school). How much $$ was this? $50,000? Did you actually apply for student loans or only complete the calculator to arrive at your no aid offer? If you had applied for the loans, your DD would have been offered $5500 in a loan amount for her freshman year and the aunt’s leftover cash could have moved to her sophomore year. Too late now. You allowed your DD to spend $ 50,000 because…..she had her heart set on the OOS school? Well, now you get to inform her that she cannot return for her sophomore year unless you mortgage your house. I do not recommend this because YOU HAVE OTHER CHILDREN. I am sorry to be so harsh, but what outcome did you imagine? [/quote] The parents can co-sign on loans. It’s not the best solution but it’s also not a disaster. [/quote]
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