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College and University Discussion
Reply to "Best financial planning tip for donut hole families"
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[quote=Anonymous][quote=Anonymous]we didn't really have it laying around. we lost our two remaining parents. so all 4 parents gone and [b]we had some inheritance. [/b] we've never made 250k. our HHI is about 140k. we do have two 529s that are about 100k each do to great returns over last 15 years. so I guess we saved more on less income than you did. if you make 250k, you can afford a new roof[/quote] Perhaps mark some of the inheritance to college for kids and some to retirement. Speak with a financial planner. Retirement comes first - if the FP tells you you can't afford to use inheritance for college - then look in-state, apply to lower ranked SLACs that will try to lower price to be affordable to you, or look at schools in south that give large scholarships as long as you meet the GPA/SAT-ACT hurdles (these are literally in charts to see). Best of luck [/quote]
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