How to budget to pay for college, should we take out a loan?

[thumper1]

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We have enough to pay totally for 3 years of college. It is that last year that I don’t think we have enough saved or will by that time. We will be about $15000 short in my estimation. She was only offered an unsubsidized student loan for this year which we did not accept. My question, should we go ahead and take the loan over the next 3 years which would then make-up for that shortfall I am anticipating?

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<p>You are very fortunate. You can fully pay for three years plus of college.</p>

<p>Have your child take the Stafford loans to make up the shortfall. She can even do so for this year…find out how to do so.</p>

<p>For freshman $5500…Sophs $6500, Junior $7500, senior $7500.</p>

<p>That will more than make up for the “shortfall” you are anticipating. In addition, your student can work during the summers AND during college which should also add to the pool of money.</p>