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Money market or 529s first to pay for college - D18 and then S21
We are looking at lots of college bills the next 7 years as 2 kids go through college!!
D starts Fall 2018 and our cost will be just north $50k (She got need aid of $15kyear).
We plan to pay about $12k out of pocket each year and the rest from savings -- so about $40k from savings for next 3 years and then more when S. is in college.
The savings/equity we have to access are the following:
1) About $125k in money market from recent property sale
2) About $75k total for the two kids in 529s
3) home equity loan (or sales proceeds if we downsize while S. is in college which is the plan) that will cover the rest for S. -- estimating from $100k to $135k if he goes private or OOS.
MY QUESTION is: Do we use the money market cash first or the 529s or does it matter?
We are expecting/hoping the one year of overlap when they are both in college we may get a little more need based aid for my D and am not sure if there's financial aid spend down one source of savings over the other.
Thanks in advance for any advice!!!