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This could be a good board :

The one caveat I have is that the offer of a loan is based on the college's estimate of expenses for the years of school, including living expenses. Before doing anything, you might help her review what she thinks is a realistic budget for this year of school.

When my kids went to college, their expenses were definitely less than a financial aid office projected.

Because I need to head back to a conference, I will also add if the UGMA account was intended for college, I would use it before taking a loan. Each year's financial aid is based on the assets at that time so I would start spending them. Also, if her parents are involved and file US tax returns, they need to project any tax savings from possible education credits and deductions -

There are lots of moving parts involved in this - great that she also has you helping her.
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