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article: The biggest college planning mistake parents make

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This!

 

And if you are within 15 years of retirement, that is NOT a good time to take out these kinds of loans. 10 years from retirement age is scary. The reality is that people are living longer, but that does not equate to people living healthy enough to work past 65. A good many have already had their first strokes, heart attacks, you name it. I hate to be the debbie downer, but that is the reality. Taking out a boatload of parent plus loans ten to fifteen years from when a person is very likely to be existing on lower income is not wise. The only caveat might be if the house is worth just a huge amount, more equity than needed to pay off those loans, so when health starts to take a turn, the house is sold and the proceeds used to pay off the debt.

 

I just know I don't want dh to be 68 and paying off college loans. UGH.

 

Preach it.  Dh will be 64 when all the kids are done with undergrad.  No way are we taking out loans coming due then.

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Preach it.  Dh will be 64 when all the kids are done with undergrad.  No way are we taking out loans coming due then.

 

Assuming Boo heads to college, I'll be 58, 62 when she graduates.  Nope.  Can't do it -- even if dh and I do have to work 8 more years until we can retire.

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