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[quote=Anonymous][quote=Anonymous]OP here: We are a blended family that combined assets 5 years ago. As blended families go, we purchased a home and a lot of things that we needed to fill that home, repairs, emergencies etc- I'm currently dealing with a failed sump pump and flooded basement.

We've been spending A LOT just due to where we are in life and the juncture at which we met. In terms of equity, maybe 80-100k?

We would like to save more $$, but it's very difficult at the moment and there isn't much wiggle room in terms of lifestyle.

In 4 years we will be in a much better position debt to income ratio wise and will have more to cash-flow.

Our 1st student will likely attend community college or a regional. Other parent has a healthy 529 and we can generally afford his options as he will likely be a commuter.

Our 2nd student is where it gets tricky. They are very talented academically and will likely submit to Ivy's as target/reaches. They will be in the running for a lot of merit aid. We're more concerned about the price tag of their education because it's unknown if the other parent has anything to contribute and/or would participate.

So in 4 years, we will have 1 in college at either a community college or regional university that is 70-100% paid for. And unknown on kid #2. [/quote]

OK, so I don't think it is as dire as it sounded originally, then. One kid is probably taken care of by the other parent based on what you are saying.

Kid #2 can aim for Ivies if they wish, but also should apply to some schools where it is cheaper/they might get great merit aid. Start saving when you can into whatever vehicle works for you - 529, savings accounts, etc.

Like you said, by that point, you hopefully will be in a better financial position. You can possibly cash flow some of it, have the kid take out some the loans they are eligible for and you can also do parent loans if needed. It isn't unheard of for parents to take on an extra job when both kids are out of house to help pay college.

Do you have a financial advisor? They might be able to help walk you through some of this.

My child just found out she is getting offered a spot at her "dream school" (her dreams don't involve Ivies-not even close)  Of course, we have to take a look at what the financial offer is. I have a bad feeling it will wind up being too expensive and she will either wind up at one of our state schools or a private that is throwing a ton of money at her to make it even cheaper than the state school. I'm not going into debt when she has other more reasonable options.[/quote]

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