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Reply to "Savings - screened porch v college?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Am I missing something or did you not tell us how much you have in 529s or other college savings? Also what is your HHI? [/quote] This plus I am confused. [b]Why do you say you want to pay for all on college....but you also plan to take out student loans? [/b] Why would you pay down a mortgage at 3.6, whose interest is tax deductible, to take out student loans when interest rates for loans are currently at 8 percent? [/quote] OP here. My parents paid for me to go to college but some of it was loans that they took out in my name (that have since been paid off). DH put himself through college and grad school - and we were married when I went to grad school - he paid for most of it, except I still have some small loans to finish.[/quote] No. No no no no no. It does not make sense to pay off a mortage with deductible interest of 3.6 percent and then take out loans at a much higher, non deductible interest rate to pay for college!![/quote]
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