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Paying for College When Close to Retirement
posted at October 13, 2011 8:18 AM EDT
First: October 13, 2011
Last: October 13, 2011
I am at a crossroads at this point in my life, I am in my mid-50 and feel guilty about having my daughter pay for part of her undergraduate degree. I have her Associates degree paid in full, however she is deadset on transferring to a very expensive private art college in Baltimore, Maryland (about 45K per year w/tuition and room and board). She is a photography major.
I would like to retire at age 62 and not have the added extra pressure of working beyond those years to pay for it. Its a lot of debt to pay for a youngster, however, she has her whole life ahead of her to pay for student loans after graduation from college, and I would much rather enjoy my future retirement then be swaddled in debt at my age.
Any thoughts on this scenario from the AARP community?