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[quote=Anonymous]OP - I think you're a great aunt. Don't let these anonymous trolls get you down. You are in between a rock and a hard place with regard to helping your niece. She is an adult now and must make decisions on her own. However, you should also guide her because she is still even - 18 years old may be considered adult in our society, but it's still young!

Rather than rely on the guidance of people on this board, I would suggest you try and do some research yourself and then seek a professional in your area that can give you some guidance. I don't have any particular advice other than to try and keep the loans to a minimum. Also, make sure to read all of the fine print on any loans that are taken out. You don't want your niece to discover too late that she signed off on something unreasonable. It sounds like she is going to have to expect to take out some loans, but she should also research scholarship opportunities and other sources of revenue that could help her. It's a big job, but if she is determined to go to medical school then she needs to work hard.

You also need to truly research how she can become a resident in your state in order to get in-state tuition. Every state's requirements are different so you need to research that. It would be ridiculous for her to pay for 4 years of OOS tuition if she can qualify for in-state, even if it's only for a few years. If she continues on to medical school she should consider attending the medical school in-state also, unless she gets financial aide/scholarship money later.

Your niece is young now and probably believes that 100K will cover everything for her education, but she is wrong. Sadly, it will not even get her through her undergraduate degree....she may need to sit down with a professional money manager who will put it all in perspective for her. Do you know anyone who does this and is willing to work with you pro bono? Money managers often charge hefty fees so I wouldn't advise seeing one and paying their fee, but hopefully you can find someone.

Good luck![/quote]

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