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College and University Discussion
Reply to "FA Question: Inherited house, now worth $1M, now what? "
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[quote=Anonymous][quote=Anonymous]What? The OP said that the HHI of 104K was a recent thing, and that they had been living on much less until recently. Let me tell you, OP, as someone who is saving for college and shopping for a nursing home for a very sick parent--do not sell your house in order to finance college. Thank goodness my parents held on to their outdated, old house in a very expensive area for all those years, because that is the only real asset they have and we are going to consider ourselves lucky if its sale is enough to cover their expenses. [b]Your financial security is much more important than financing your children's dream college.[/b][/quote] I think people were saying that the house IS an asset like any other - and if she wants to send her kid to an expensive school, sell the house. I don't think they were saying that's a great idea in the long run, but rather that she has that choice --- and colleges see it as such.[/quote]
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