We have an 18-year-old daughter getting ready to head off to college come September 2022.
This has caused many arguments between us.
He is adamant he will not work beyond 65.
What advice do you have for us?
-A.
Dear A.,
For what its worth, I agree that your husband is being unreasonable.
When you have children later than your peers, that often means you have to work longer.
The federal financial aid system expects parents to contribute to their childs college education.
Of course, what I think isnt going to matter to your husband, though.
Since youre at an impasse, your daughter needs to plan for the worst.
She should make college plans assuming your familys income will drop significantly around the halfway mark.
Your Email AddressSend Your Question
DISCLAIMER: Questions will appear in The Penny Hoarders Dear Penny column.
We are unable to answer every letter.
We reserve the right to edit and publish your questions.
But dont worry your identity will remain anonymous.
Thank you for your question!
Your willingness to share your story might help others facing similar challenges.
While we cant publish every question we receive, we appreciate you sharing your question with us.
So try not to get sticker shock.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help… Dont let that number influence a students decision whether to attend college.
FAFSA has a two-year lookback period.
Obviously, a lot can happen in two years.
Thats why the Department of Education allows a process called professional judgment.
Life events, such as unemployment/retirement, will be handled differently by every school, North said.
And when I say you, I mean both you and your husband.
He should be part of finding solutions here.
You also need to be clear with your daughter about what you could afford.
Did you know?
Its also not the end of the world if your daughter has to take on some student loan debt.
Your daughter can also contribute by working part time.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Send your tricky money questions to[email protected].
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
