<p>There are also pension plans that allow the participant to roll his or her benefits into an insured annuity. If you’re working for a company that may be facing bankruptcy, getting a pension locked in now through a lump sum distribution or an outside annuity may be a very financially prudent choice. The Pension Benefit Guarantee Corporation also treats current pensioners somewhat better than those who have not yet retired. </p>
<p>Talk to the FA officer at the school. If that doesn’t get the OP where he needs to get, a gap year is almost certainly warranted. If you do take one, be sure to read up on financial aid and have mom do so too so that you make sure that assets are appropriately allocated.</p>