I have this theory for how I’d like to fund my (future) children’s 4 year college education:
- The kids pay for their freshman and sophomore years of college (either by student loans or out of pocket). This debt is theirs during the time they are newly independent (over 18).
- We (parents) cover their junior and senior years of college.
- Upon graduation, the freshman and sophomore years are “refunded” to the child either by loan repayment or, if they paid out of pocket, in cash.
Your thoughts?