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Reply to "How to pay for college: specific scenario "
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[quote=Anonymous][quote=Anonymous][b]There’s part of this I’m having difficulty understanding. The FAFSA of $0 aid has to be because the sum of your HHI, investments, 529, retirement assets, and home equity is sufficient that if you use all those resources plus loans you can cover the cost of college. Admittedly that’s for kid#1 only, but the truth is that not paying for the OOS college is a choice. Your choice. If you spend down the investments and borrow against home equity and take out loans, your financial position will eventually adjust such that your FAFSA-derived aid is more than $0. This will benefit the current student and future children’s cost of attendance, but yes, will cost you a lot. The expectation is that putting your kids through college is a financial hardship. If you don’t want to endure it, fine, but it’s a choice that prioritizes your wealth over your children’s future. I get it, you paid for your own college and grad school. So did I. Those things were a lot cheaper then. It’s not plausible for them to do what we did.[/b] [/quote] Exactly this[/quote]
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