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Family of Origin
Money for grandchild college & questions
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<blockquote data-quote="Copabanana" data-source="post: 684273" data-attributes="member: 18958"><p>Hi Nomad. I will look for your new thread. Welcome.</p><p></p><p>I am thinking about the prepaid tuition plan. I am wondering if it is a good deal or not.</p><p></p><p>Some presidential campaigns are talking about free public school tuition. How likely that is, I do not know. But something has to be done about the ballooning student loan debt.</p><p></p><p>There are ways that kids who want to get education. Even having the prepaid tuition does not insure the kids avail themselves of it.</p><p></p><p>I think it boils down to you and what makes you feel you have done "right". So you can rest easy and no you have done the right thing.</p><p>Another possibility would be to leave the money directly to your son, to use as he decides. That way control of the money would stay with you as long as you live, and then afterwards, would be controlled by your family. Buying the tuition gives the money to the State. I do not know the provisions about its return if not used.</p><p></p><p>Probably It can be refunded, without inflation protections or interest, but I do not know.</p><p></p><p>I have an attorney who has advised me, but in the end, it is really hard to know what to do. I followed his advice pretty much entirely but still think I did the wrong thing. None of my options, I liked.</p><p></p><p>Nomad, how is your daughter doing?</p></blockquote><p></p>
[QUOTE="Copabanana, post: 684273, member: 18958"] Hi Nomad. I will look for your new thread. Welcome. I am thinking about the prepaid tuition plan. I am wondering if it is a good deal or not. Some presidential campaigns are talking about free public school tuition. How likely that is, I do not know. But something has to be done about the ballooning student loan debt. There are ways that kids who want to get education. Even having the prepaid tuition does not insure the kids avail themselves of it. I think it boils down to you and what makes you feel you have done "right". So you can rest easy and no you have done the right thing. Another possibility would be to leave the money directly to your son, to use as he decides. That way control of the money would stay with you as long as you live, and then afterwards, would be controlled by your family. Buying the tuition gives the money to the State. I do not know the provisions about its return if not used. Probably It can be refunded, without inflation protections or interest, but I do not know. I have an attorney who has advised me, but in the end, it is really hard to know what to do. I followed his advice pretty much entirely but still think I did the wrong thing. None of my options, I liked. Nomad, how is your daughter doing? [/QUOTE]
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