<p>I’ve been pondering loans (for son) and expenditure of extra savings (parents) for the cost delta between various schools. I even started a threat to understand loan payback ballpark
==> $5500/yr x4 unsubsized Stafford loans translates to about $300/month for 10 years. </p>
<p>But as I read this thread today in a more playful mood, I extrapolate back to a rule of thumb of mine that I used to share with new parents - “Never put more food on the high chair table than you are willing to mop up off the floor”. As parents you have to be comfortable that you can live with your financial decisions you make for college, even if things don’t play out exactly as you plan.</p>
<p>I like that rule of thumb for the highchair. I agree that we need to be sure we’re willing to commit whatever we say we will without strings and regrets. No one can tell what the future will bring and we have to weigh as best we can, knowing what we do at the time. None of us have “perfect knowledge,” but it definitely is a consideration as to how much to spend for what. That poor dad with his D’s divorce & deferred retirement! Hope her new guy was worth the pain & heartache!</p>
<p>We went over our finances and with my husband’s job in question right now (the company is on shaky ground) we just can’t cover any costs for housing. She will have to remain at home for her freshman year and if she wisheds, apply to be an RA next year. Welcome to adult life.</p>
<p>Welcome to life, indeed. Sometimes commuting is the only fiscal option, as it appears to be here. But do inform your D, in the interest of full disclosure, that it’s difficult to be accepted as an RA if you don’t have any prior experience with dorm life.</p>