High EFC, but want loans!

Momwaitingfornew
Thu, 15 Mar 2007 08:10:25 +0000

I agree with Chedva’s approach. You really don’t want your daughter graduating with unnecessary debt, especially since there are all sort of start-up costs associated with a first apartment, first job, first set of career clothes, etc. If she contributes her own, hard-earned money (and also knows that the contribution is not a large one given the entire cost), then she will have a better idea of the cost of her education.

It’s one thing to take out a $3500 loan if that’s the only way she can attend college, and quite another to have her assume that debt for a lesson. Much better for her to contribute outright.