<p>
</p>
<p>Short answer…without extenuating circumstances…the answer to your question is NO.</p>
<p>But I will add…congratulations on planning ahead so well for your kiddo’s college education. Yes, it’s financially exhaustive, but it sounds like it is doable for you. We did the same, and were very grateful that we were in the financial position to help our kids with college. Would we have liked some money…well of course, and both kids did get merit aid awards. BUT we were very thankful that we were in the position to be able to fund their college educations. We DID require both to take the Stafford loans in their name.</p>
<p>Also, keep in mind that the $62K plus costs include personal expense items that are not billed to you by the college…including personal expenses, travel, books. MUCH can be saved in this category by being sensible in purchasing. Used texts purchased online…limited “discretionary spending”, and travel in the least expensive fashion.</p>