I used to read these boards frequently looking for advice in all aspects of my child´s college search. I just wanted to return and both thank those who posted good financial advice and offer a lesson for those looking at financing college. My caution is to please be realistic about financing college and consider costs. Initially, my family was willing to go into significanr parent debt for college although we had enough to fund an instate public education saved in the 529. After reading the financial threads we reconsidered and financial limits were set. All ended well and child went to a pricey private that required about 10K per year out of pocket after scholarships and 529 moneys were applied to tuition. This was quite affordable for my husband and I. After a few years, child transferred to an instate public, which is less expensive. Transfer was not for financial reasons but of course reduction in out of pocket expenses is nice. All tuition and costs are now covered by remaining 529 money and child earns spending money with a part time job. No problem. Recently learned that we are likely facing a significant reduction of income. Cannot be sure how long it will last. Even if we did not have the 529 money, tuiton for remaining year of college could be covered by federal student loans and a much smaller contribution by parents. What a load off of our minds knowing that child can finish college debt free. For all considering college costs, keep in mind that financial surprises can and do happen. Keep those costs in mind when choosing a college.
Ugh, should be spelled ¨monies!¨