Value of an Education

Joe_Caltech_04
Tue, 29 Aug 2006 18:30:19 +0000

“My parents don’t have the money for it, but they could have the money for it.”

Exactly–which is why I suggested perhaps borrowing from his parents, if they really don’t want to part with their money.

“my parents’ retirement savings are not in retirement accounts–they are mostly in stock, so they do count for financial aid purposes”

You can hold stock in retirement accounts, though; in fact that’s generally the best way to do it because there are tax advantages. I don’t expect you to outline your financial situation here on the internet, but it’s certainly interesting. Did you try to explain the situation to the financial aid office? If they really don’t have retirement accounts for some reason I’m sure Caltech would re-adjust their calculation to “shelter” more of the general savings.

Just one more reason to open up a Roth IRA today, kids…