If your child goes to college, are you cosigning for their student loans?
No ,we paid for our oldest and are planning to do so with our two teens.Our oldest both received some scholarships and we expect our younger two will also.If they don't we are prepared to pay.We tell our children upon college graduation we will give them 10% of any scholarships they earned.It helps with the motivation.
We also tell them we have money for school but not for only a party life.Grades and no drops w/out prior discussion are expected for us to pay their way through school.They seem to have fun and keep their grades where they should be.
Yes. My daughter will have some Stafford loans due to the fact she choose a private school instead of instate public. Her loans will total $5,500 this year. We are paying the rest out of pocket. The goal is to keep the loans low, about the size of a modest car.
Maybe. My dd has just enrolled in community college. She's completed FAFSA paperwork but won't know until Tuesday when she picks her classes what the difference between tuition and monies available is.
We have college funds set up that will cover a lot of it. I expect them to apply for every scholarship under the sun and do work study. Whatever is left (if any) will be student loans but THEY will pay them back - not me.
We ae paying cash.
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