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School money / scholarships?
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<blockquote data-quote="Martie" data-source="post: 47044" data-attributes="member: 284"><p>Barbara,</p><p></p><p>I was just going to suggest what Lisa did:</p><p></p><p>If all else fails or there is a gap left, have your daughter take out loans in HER name rather than you paying directly. If she qualifies for a Federally subsidized loan, there is no interest charged to her while she is still in school. Then when repayment starts, you can "kick-in" on the payments stretched out over a longer period of time and with less impact on you than if you just write a check next fall.</p><p></p><p>I FINALLY figured this out--after trying to keep our kids' student loans at a minimal level. It occurred to me about 2 years ago, that they can borrow at much more favorable interest rates than we can and by having these loans our "help" can be spread out over a few years.</p><p></p><p>This is important for us since for the last two years, we have had two in very expensive private schools at once. WHEW--next year we are down again to "only" one. The above strategy works for anyone who would like to help a child with educational expenses but wants to spread out the payments.</p><p></p><p>If your daughter does not have a lot of income (and three dependents), she should file a FAFSA and probably will qualify for a Federal loan. </p><p></p><p>Martie</p></blockquote><p></p>
[QUOTE="Martie, post: 47044, member: 284"] Barbara, I was just going to suggest what Lisa did: If all else fails or there is a gap left, have your daughter take out loans in HER name rather than you paying directly. If she qualifies for a Federally subsidized loan, there is no interest charged to her while she is still in school. Then when repayment starts, you can "kick-in" on the payments stretched out over a longer period of time and with less impact on you than if you just write a check next fall. I FINALLY figured this out--after trying to keep our kids' student loans at a minimal level. It occurred to me about 2 years ago, that they can borrow at much more favorable interest rates than we can and by having these loans our "help" can be spread out over a few years. This is important for us since for the last two years, we have had two in very expensive private schools at once. WHEW--next year we are down again to "only" one. The above strategy works for anyone who would like to help a child with educational expenses but wants to spread out the payments. If your daughter does not have a lot of income (and three dependents), she should file a FAFSA and probably will qualify for a Federal loan. Martie [/QUOTE]
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