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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Live2Sail who wrote (84013)	8/8/2007 4:33:54 PM
From: GraceZ	Respond to of 306849

How about this-- Can I park money with a brother or sister, so I have less assets when my children go to college? That way I can get more aid for my kids? Yeah, I've heard that one as well. If it's legal it's certainly not ethical. Private colleges always have plenty of money to compete for the best students regardless of need. Several of my nieces were offered full scholarships even though their parents could pay. The flip of that is a gal came to me recently for an analysis of what a job offer from a private college was worth. The job offer included college tuition at a large number of private institutions with reciprocal agreements for both of her children who were around 4-6 years away from college. She and her husband hadn't saved dollar one for the kids education. When someone comes to you when the kid is a teenager there isn't much you can do for them except talk about loans and possible scholarships. This job offer would completely bail her out. The job paid about 6k less than she was getting at her current job and her husband didn't want her to take it. The future benefit was worth far more than the drop in salary. There was some risk, a risk that she could lose the job just as she tried to collect (there was some protection in there against that kind of outcome), or that the kids would be resistant to going to college in the first place (there's no protection against kids deciding to ruin your plans for them). She took the job.