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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So as other PPs have said, this is a really really common scenario, not something specific to you.

I would really think about the other kids in this situation. It sucks if you exhaust all resources to keep your oldest in this school - that you never had a plan for paying for - and they resent the crap out of you and their sibling as they will have no such choice.

Because you have other kids, I would seriously consider requiring your kid to transfer to a place that you can afford between your current college savings + federal loans for the kid (anyone can take the unsubsidized loans). Yes, it will feel awful, but it will not ruin their life.

The other option is that you borrow to cover the difference, but that's not going to be sustainabie across your other kids.

[/quote]

The plan was a relative who paid for it who now isn't going to pay for it.  They didn't save anything for college.  [/quote]

Wrong.

The gift from the relative came out of left field once the kid was accepted. Relative covered everything for first year.

Kid was counseled to stay in state but opted to go away instead.

Yes, kid qualifies for roughly $5,500 from FAFSA. That’s all.

We can pay for some but not all of the kid’s college expenses. We can essentially cover in-state tuition for all our kids, but not living expenses. They can live at home and commute and not have to worry about student loans.

Our oldest either needs loans or to transfer back home.

^^^
That’s what we are exploring.

And to the poster who insists we bought a home we couldn’t afford and are snobs who are living beyond our means: please explain how a $400k house is a luxury? It appreciated to $700k. We only have a $1,700 mortgage. I doubt many others have mortgages that low.

We did save for college and continue to save for our other kids. Plus, we will receive an inheritance in a decade or so. We are on target for retirement plus long term care. We are doing everything right…aside from not being able to rein in our oldest. We are now crossing that bridge.

FWIW, I handled my own college and grad school. Lots of people do. [/quote]

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