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Reply to "I’ve been honest with my daughter about what we can afford but…."
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[quote=Anonymous][quote=Anonymous]Frankly, I would not apply to schools that you can't afford and can't believe posters are supporting or suggesting this. [b]It's much easier to be realistic up front and talk up other options than to have a dream acceptance in hand and then have to tell your kid you can't swing it. Get her excited about her choices!! [/b] And those who are suggestions she pay back parents from lucrative future earnings are just asking for trouble. What if she gets disabled? Switches majors? Goes to an interminable PhD program? Takes a job that doesn't pay the money you think she should be making? Decides to take a year off and travel? Decides that X, Y or Z is more important to spend money on than paying back mom and dad? All kinds of things could and do happen in family loan arrangements like this. My husband's parents put him on a payment plan for money he borrowed from them for medical school. For many reasons, this was an albatross in the relationship until that money was paid off. It's much better to not intermix loans and family, even parents. [/quote] +1 As someone already posted, they'll resent you even more if you say NO after letting them apply and, despite the odds, get accepted. Help them understand they have GREAT options that you can afford.[/quote]
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