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Reply to "Recommendations for Funding College"
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[quote=Anonymous][quote=Anonymous]$20,000/year from your 529 $30,000 parent cashflow (from a $400,000 HHI is not unreasonable) $15,000/ from parent savings $ 5,500/year student loan $ 5,000/year student earnings (summer and school year) $75,000/year [/quote] This. But you will have two in college for two years. Which means you need to start the $30k per year parent cashflow THIS YEAR so you have that additional $60k for one of the years when you've got two there. Then you'll probably have to take out a parent plus loan for the other double year. So the parent cashflow really looks like: 10th grade/12th grade - save $30k 11th grade/Freshman - $30k cash flow 12th grade/Sophomore - $30k cash flow Freshman/Junior - $30k cash flow and spend the $30k that you saved that first year Sophomore/Senior - $30k cash flow and a $30k parent plus loan Junior - $30k cash flow Senior - $30k cash flow First year of no college bill - $30k from budget pays off the plus loan in its entirety. [/quote]
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