<p>MichaelNKat…we also have taken out the maximum Stafford and Perkins Loans for both our girls for undergrad and grad because the interest rates are lower than Parent loans and the payments do not start until they are out of school. However, we are paying these as the parents but just took advantage of these very good loans. We took additional Parent Plus loans out as well. But people should start with the Stafford and Perkins loans even if the parent is paying and not the kid. It may have our children’s names on them but we consider these our loans, not theirs. </p>
<p>NMR, I agree with your assessment with regard to NYU. I have to say IN MY OPINION that if someone does NOT qualify for any need based aid according to FAFSA, there should be a way to come up with financing the education over time because we qualify for aid, which means we earn less money than those who do not qualify for aid and have found a way to finance it over time. However, it is a big hardship and may not be something others may wish to incur in terms of paying for education.</p>