Financial Aid Advice

[CloneFanInKC]

In the rare situation there are funds left in the 529 post education. Those funds can be treated as a Roth IRA. There are a lot of requirements that need to be met but it’s a nice new allowance.

Wife and I were DINKs for 8 yrs prior to our first child. We were also fortunate enough to open a 529 for each child one year prior to their birth.

It’s going to cost a fortune to put 4 kids through college. Luckily we have a good foundation started for that.

I put myself through college and graduate school and came out with a massive amount of debt. A goal of ours is to prevent that for our children. I do agree/like what BCClone stated that the kid needs to have some skin in the game!

 

[FriendlySpartan]

College Expenses are crazy. Iowa State is relatively inexpensive compared to public schools in other states. My two kids have both graduated from Iowa State even though we live in Indiana. With scholarships, Iowa State was less expensive than Purdue or Indiana even though we paid out of state tuition.

I am into the real costs now. My daughter is in Physician Assistant School. Tuition is about $100K for 2.5 years no matter what school you go to. No scholarships, no jobs, no interest free loans. Then add in living expenses for 2.5 years. No wonder there is a shortage of health care professionals. I'm sure an MD is much worse.

At least she will come out making pretty good money. Make sure she enrolls in PSLF right away and works for a qualifying employer.

Besides that, wish her luck. PA school is an extremely intense 2 years.

 

[bozclone]

At least she will come out making pretty good money. Make sure she enrolls in PSLF right away and works for a qualifying employer.

Besides that, wish her luck. PA school is an extremely intense 2 years.

She has one year complete. It has been very intense for sure. I thought engineering was challenging, but I couldn’t do what she has done.

 

[FriendlySpartan]

She has one year complete. It has been very intense for sure. I thought engineering was challenging, but I couldn’t do what she has done.

Buckle up, year two is the worst. Great career path though as you can hop around to different specialties fairly easily. Mid levels are the future of medicine and the ones who actually get to practice in certain settings.