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Reply to "How to pay for college: specific scenario "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We had cash to cover freshman year thanks to a one-time gift from a relative. FAFSA gave us nothing due to our HHI, etc. We cannot bring cash to the table for tuition for the next 3 years. What’s the best way to handle this in terms of student loans or other loans? [/quote] Consider transferring to an in-state public university as tuition should be much lower.[/quote] While that would make sense financially, it’s not what the kid wants to do. I’m playing mediator between kid and DH to gather facts and numbers to focus options and determine next steps. [/quote] It is no longer a "want to do" issue; it is a "what can I afford issue". Student loans affect one's life well beyond the college years. Affects relationship / marriage options, home purchase ability, etc. OP: I recall a student whose grand parent left a college fund. It paid for one year at an elite private school. After year one, student transferred to NYU, ran out of money and a decade later does not have a college degree, but does have college debt from the second year at NYU. Best to face reality now OP.[/quote]
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