Maybe you are like the Brady Bunch. With six kids, the Brady Bunch
was bound to have at least two, if not more, kids in college at the same
time. I wonder how the parents in the Brady Bunch coped with
having to pay for two kids in college, while at the same time still
having to pay for the four younger siblings as well. The costs can
really start to add up especially when you have to pay for more than one
kid in college at the same time. Luckily for the Brady Bunch, I think
the oldest children were only in high school, but they were bound to go
off to college some day.
Or maybe you aren't like the Brady
Bunch and only have two kids, but they are close in age: like only a
year or two apart. Or could you imagine having three or more kids all a
year apart in age? Or maybe you have twins. They will definitely be
going to college at the same time.
Families--- whether big, like
the Brady Bunch, or small--- can end up with the same question if they
have kids that are close in age: How will I be able to afford to pay for
my children's college costs at the same time?
Well parents, you
can get some help if you have two kids in college at the same time. If
you apply for financial aid and show that you have two kids in college
at the same time, you can get a break. For example, say you have only
one child attending college. Your household income is $150,000 and you
have assets totaling $500,000. With just one child in college, the way
that the formulas are constructed, it says that you can afford to spend
$50,000 (hypothetically speaking). So with one child attending a $40,000
school, you wouldn't get any financial assistance. BUT, if you have two
kids in college at the same time, you would get $30,000 in financial
aid versus getting $0 in financial aid.
So what should you do if your kids aren't twins and don't enter at the same time? If your kids are
one, two, or three years apart, you might want to ask the oldest child
to take a year off after high school so that your children can be in
college at the same time (or so that you can at least have a few of
their college years overlap).
If you have a question pertaining to college and paying for college, feel free to contact me at: shanicemiller1@gmail.com
By: Shanice Miller, Founder
DebtFreeCollegeGrad.com
Maybe you are like the Brady Bunch. With six kids, the Brady Bunch
was bound to have at least two, if not more, kids in college at the same
time. I wonder how the parents in the Brady Bunch coped with
having to pay for two kids in college, while at the same time still
having to pay for the four younger siblings as well. The costs can
really start to add up especially when you have to pay for more than one
kid in college at the same time. Luckily for the Brady Bunch, I think
the oldest children were only in high school, but they were bound to go
off to college some day.
So what should you do if your kids aren't twins and don't enter at the same time? If your kids are
one, two, or three years apart, you might want to ask the oldest child
to take a year off after high school so that your children can be in
college at the same time (or so that you can at least have a few of
their college years overlap).
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