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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know interest rates stink but what about a HELOC off the value of the house?

Can the kid defer a year, live at home and work to save up some money?

Agree with above to challenge the aid calculation?[/quote] very bad advice except for the last statement. No undergrad education is worth messing up with life savings.
It’s sad and unfair, but the kid is bright. She can aim for top grad schools in her field. I know a kid who gave up Yale for a full ride at T40. He moved on pretty fast.[/quote]

What is wrong with a gap year? I think this is a great idea. Lots of kids do it. The kid enters college much more mature. Ideally they do something they find interesting, or combine something interesting with something less interesting that pays better. If you are only doing it for a year, it is tolerable.

And if the home has truly appreciated that much, taking a relatively small HELOC isn't awful. Based on what others are saying, there are likely other assets here (like a 529) so I'm guessing the gap isn't that huge. There are other loans they could do but since they mentioned lots of home equity, I'm just throwing that out there.[/quote]

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