"The student has $115,000 in a grantor-type trust controlled by their parents, with $35,000 immediately accessible. They are considering using this money to fund their education."
"The parents have offered an intra-family loan with a lower interest rate than federal student loans, but the student is concerned about the lack of tax deductions for interest payments."
"The student feels confident about securing a good job post-graduation and values financial independence, leading to their hesitation about taking on debt from family."
A student is preparing for a two-year master's degree with a budget of $60,000 to $65,000. They have $16,000 in savings and access to $35,000 from a family trust. The student is considering using trust funds to avoid loans but is also offered an intra-family loan with lower interest rates. They are hesitant about family loans and are weighing the benefits of financial independence against potential debt. The student seeks advice on the best approach to funding their education.
Read at Slate Magazine
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