Is the Debt Worth It?

jtmoney
Thu, 19 Apr 2012 09:41:31 +0000

Listen to mom2ck about debt, come up with a 4 (5 for California) plan that keeps debt under $30000. Totally understand your parents cash flow problems. You might soften the blow to them by reminding them of federal tax credits. Many people get a $2000 tax credit for the first $2000 of tuition and fees expenses they pay. With appropriate planning that’s almost $200/month without changing your net take-home pay, or a nice refund in the spring for the last tuition payment. It won’t finance an expensive dream school, but it will help them help you.