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Our daughter is in her sophomore year at Marymount Manhatten College in NYC. She has been awarded both a merit (talent) and a scholastic scholarship for all four years that covers about 30% of the cost. She had been trying to get onto the "RA" staff, and my wife and I were supporting that. She finally got the position and as long as she does not quit or screw up (slim chance) she should have free room and board for the rest of her undergraduate studies. She also gets about $100/month stipend.

In absence of that, we were planning on funding as much of the remainder of her school costs as possible through loans from our 401K and cash. Now our burden is significantly less, and in order for our daughter to have some "skin in the game", we have offered to save that money for her until she graduates. If she is able to keep with it, she should have no loans plus a nice sum of cash to do with what she wants.

I'd highly recommend the RA program if your student child has a willingness to go for it.

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