Get a second mortgage on your house to pay for you child(ren)s education? I'm really torn. I'm so close to paying off my house. Sooo looking forward to it. However, I don't know that I can continue to pay for my daughter's education if we don't get a second mortgage on the house. She is a 18 years old and a freshman. My son is 13 and will be a freshman in high school in the fall. The public school system around here is in the gutter. The kids are unruly. He tells me at least twice a week about how some kid cursed out the teacher, kids walking in and out of class as they please, refusing to go to the principal's office when directed to do so. Security is often called to the classroom to remove students. It sounds like way to much correcting of behavior and not enough time teaching. It's not the fault of the teachers but it's not my fault or my son's fault either. I've been looking into private high school for him. They are all anywhere from 8-12 thousand a year. Between that and tuition for college, the only way is to get a second mortgage.Should I let my daughter get student loans and pay for school herself? Should I pay for college and let my son go to the substandard public school? I clearly can do only one or the other. NO way can I do both without a second mortgage. I don't one to feel like I'm choosing the other. I keep telling myself my daughter is supposed to be an adult so let her be an adult. I didn't want her to start her life in debt, but I don't want to end mine that way. She made it just fine through the public school system, but she is one of those kids who will do fine no matter what. My son is a completely different story. The environment and setting have to be right for him. He isn't like her and boys have a different set of challenges to face than girls. Would you get the second mortgage for the son, the daughter, both or neither?
Couch Tuner
- Carma998
on Apr. 1, 2012 at 1:03 PM