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Reply to "How to pay for college: specific scenario "
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[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] Did you just land on planet Earth? Did you spontaneously adopt a 17 year old? If not—sorry but I can’t fathom your irresponsibility over the last 20 years. We have 2 kids and drive 20 year old cars, have driving vacations to grandparents, buy clothes at Goodwill, and eat at home etc etc. All to make sure we can pay for their education. [/quote] People are just bad at planning. Not sure why but saving is just so hard for folks. Whether it’s for their own retirement or for their kid’s schools. They don’t do it and then wonder why the system is so unfair. Given this is the reality for most people, I do think we should have stronger safety nets because individuals are just not capable imo. Op - on a similar income we have about 200k in each of our 2 kids 529s. It just took discipline and prioritization. But we wanted to pay for in state and between cash flow and loans they can take out ($5k a year?), we can make an expensive private/out of state work if really worth it. [/quote]
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