Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [college]

Questions related to saving and paying for a college education

114 questions
50
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8 answers

Paying off debt and living within means vs. long term planning

My husband and I are divided as to the best way to handle our current financial situation. First, a little background. We are in our high 20’s, have been married for six years and have three kids. We started our marriage with ~$25K in savings and…
anon
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My parents claim they cannot pay for my college education; what are my options?

I have divorced parents, one makes a lot more money than the other, but that one (who makes more money) claims due to court rulings he pays a lot of money to the other parent and that they are wasting it on unnecessary expenses. I do not know what…
Outsider
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10 answers

Should a high-school student invest their (relative meager) savings?

I am a high school student, I don't really have much money, between one and two grand in my savings account. However, I have friends who are investing in both penny stocks and stocks. I do not really know much about the subject, but I do find it…
Pablo
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28
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2 answers

Taking college classes to avoid student loan payments indefinitely

My sister-in-law has decided she wants to take part time college classes so she doesn't have to make payments on her private student loan and her plan is to do this until she dies. She graduated from college about 9 years ago so you can imagine…
Erica Grant
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19
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5 answers

How will I pay for college?

The SAT is coming up soon for me and, with it, everything college. I had held the impression that I was just going to rack up student loans, go to college, and then pay them off with whatever job I got after college. I'm trying to be a bit more…
mowwwalker
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4 answers

529 College Savings Worth It?

Is the 529 college savings plan a good idea, or are there better ways to save for my child's college tuition? My children are 5 and 3.
Shane
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15
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5 answers

When paying for college, should I take out (interest-free) loans and pay them off with saved money, or use the saved money directly?

If I have money in various mutual funds / 529s / other college savings plans, would it be wise to take out interest-free loans for the duration of my education (in order to allow the money saved to continue generating interest, and also to work on a…
curious-collegiate-314
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2 answers

How to equally split college fund between 2 children going to college 5 years apart?

I have a single college fund to be used by 2 children going to college. Child A is going to college this year and child B in 5 years. I want to give child A 50% of the fund, making sure that child B will have the equivalent of 50% when she goes to…
Gus
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5 answers

How do I raise 30k to keep my best friend in college?

Today, my best friend texted me and said that he was going to drop out of college because he had been denied financial aid. He is very smart (1550+ SAT) and an incredible guy, but his parents have weird financials so that he is ineligible for…
John Doe
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1 answer

Does it make sense to "save" for college by paying off my mortgage?

Assumptions (using round numbers): Two children start college in 12 and 15 years. Currently saving $400/month in a college savings fund earning ~2%. (Some in a taxable account, some in a Coverdell.) $150k mortgage at 4% with a $1k/mo payment and 18…
bstpierre
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1 answer

How to create a college savings account for a kid without his mom being able to tap into it?

I am divorced with 2 kids. My mom wants to setup a college savings account of some type for my older kid. Last time she did this, she used my kid's SSN and deposited some money. I do not know what type of account this was (529 or some other type).…
NeedAdvice
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2 answers

How do Roth IRAs compare to Traditional IRAs for college savings?

I have seen some web pages and blog posts about using a Roth IRA instead of a 529 savings account to save for college costs as a way to have more flexibility with the investment and its returns. With that said, I'd like to understand what makes the…
MisterStrickland
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1 answer

Do I still need to pay college I owe money to even when they are no longer operating/shutdown?

Few years ago I attended this college in NH, USA. I owed them about $5,000 for courses and housing. Since I couldn't afford to pay for the next semester, I stopped going to that school. About 4 months ago, I got a call from a collection agency…
PassetCronUs
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1 answer

What is a good strategy for an over-funded 529 account?

Given a situation where there is an abundance of funds in a 529 account for the current educational situation, what is a clean strategy for getting the money out with minimal taxation? This over-funding situation may happen if the parent funds the…
Dale
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1 answer

Would it be beneficial to not claim my daughter as a dependent so that she can qualify for a Pell Grant?

I am in the position of making enough money so that my daughter does not qualify for a Pell Grant. However, due to financial issues (primarily stemming from past medical expenses) I am not able to help as much as I would like. I have taken a small…
Michael Richardson
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