UnThreaded | Threaded | Whole Thread (89) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75807  
Subject: Re: Retirement, college, and Obamanomics Date: 12/31/2012 5:06 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Is it possible to have substantive college savings, but still get the loans upfront, and then just pay them back once the student graduates? Use the loan money up until the point you have to pay interest, then pay it back in full?

Just wondering if the "process" allows it?


Yes, your kids can take out unsubsidized loans, and I think are entitled to some specific amount that goes up from freshman to senior year, but as these are unsubsidized, interest will accrue from the first day although payments are not due until graduation. Similarly, I think you can take out private loans, but those might have to be taken out by the parents. I'm really not sure because I didn't see a purpose to having my kids accrue interest while they were in school since we had saved and could pay for their college.

Best place to ask these sorts of questions is on the Paying for College board http://boards.fool.com/paying-for-college-100157.aspx?mid=30...

I've only got one payment left (DS has trimesters) and then I'm done with college tuition. I did make the mistake of adding it all up the other night to see how much it has cost us over the past 4 years. We are right about at the estimate we thought we'd spend, and we could have bought a house for cash in some parts of the country with what we just spent. I'd do it all again in a heartbeat, however, as this is a gift we had always planned to give our kids, and we saved accordingly.

I realize that other people prefer other paths, but I did see some of their friends doing the mad scramble because hoped-for financial aid did not come through, and I was very glad my kids didn't need to do that.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (89) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement