Unsure of what to do?

pbr
Thu, 05 Jun 2008 17:15:43 +0000

Whether or not to “borrow” for college is a matter of perspective. My view is that any family that does not get a “full-ride” is borrowing for college. Either one borrows from a third-party lender, or one “borrows” from savings. Some borrow from third parties because they (perhaps wisely) have sunk all of their savings into assets (usually their home equity). Some borrow from savings because they have elected to invest in liquid assets rather than home equity. In either event, the result is the same: the parent(s) financing the education are simply postponing retirement. As a parent, I believe this is a sacrifice worth making, and I’m willing to work those extra years in order to provide my children with the best possible springboard for entering adulthood.