No liquid cash

thumper1
Wed, 24 Jan 2018 18:26:41 +0000

I’m going to give some straight talk here. If you can’t afford a $65,000 a year plus college…your kid should,have been encouraged to apply to schools that either don’t cost that much…or where she was GUARANTEED to get merit aid.

I hope there are some schools like this on your list.

Here is your biggest issue as a parent. College is four years long. You will need to qualify for the loans you plan to take for four years…not just one. If you are taking Parent Plus Loans and you don’t have any bill paying issues…you will probably be approved. If you are taking personal loans, this might not be the case if YOU have too much debt.

Getting home equity loans is getting harder and harder.

If you can contribute $20,000…you are expecting colleges to give your daughter greater than $45,000 in aid. That’s a HUGE amount of merit aid.

Do her colleges GIVE merit aid? Some don’t.