Reply to Pay for college with loans or cash...

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Look for cheaper schools.[/quote]

That didn't help at all and didn't answer the question.  Not interested in going to a cheaper school.[/quote]

IF, and only IF, she plans on taking a govt or non profit job, finance everything.  She will then be eligible for income based repayments (10% of income) and 100% forgiveness in 10 years.  She could easily come out 50- 75K ahead doing this.[/quote]

Thank you this helps.  Niece is going to school either using trust money or loans.  [b]She is not considering going to a cheaper school.  [/b]

And to the PP who wants the Audi, hey if you got the credit go for it!  YOLO![/quote]

What is wrong with cheaper schools? You seem very defensive, OP. [/quote]

+100

Apparently, niece wants what she wants, regardless of financial circumstances and aunt is just fine with that.  What a waste of advice.   :roll: [/quote]
Maybe the niece is old enough to learn that you don't always get exactly what you want, and sometimes a course adjustment is necessary.

This whole topic of paying for college is a pet peeve of mine, what with recent (empty) promises of free college for everyone. There are so many ways to earn an undergraduate degree at a fraction of the sticker price. Here's what someone I know did:

- Went the first two years to community college, covered entirely by Pell grants. 
- Took a "gap" year (at age 20) and got a full-time job, the earnings of which went to the college fund, while living at home. 
- Because she finished her AA degree with excellent grades, she was offered a 1/3 tuition transfer scholarship to an out-of-state four-year school for her remaining two years (as long as she maintained a B average.) That scholarship, together with the job earnings, covered tuition and room/board for year 3.
- She had her partial scholarship for year 4, and on the hook for just the remaining 2/3rds of year 4. She graduated only one year "behind" schedule (the gap year), with high honors.

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