The Charfen Institute just came out with an article in their CIAS newsletter titled: “More Parents Using Real Estate to Finance Kids’ College.”
The article discusses the strategy of purchasing a cash flow property with a 15 year mortgage and selling the home by the time your child reaches college.
A poll conducted by the College Savings Foundation revealed the following key stats:
- 40 percent of parents are not very confident that they can reach their college savings goals
- 34 percent of parents say they know how much they need to save to fund their child’s college education, up from 27 percent last year
- 48 percent of parents are looking to education loans to pay for college, most of which will be signed over to their children
- 29 percent of parents expect financial aid to cover up to a third of college costs, down from 35 percent last year
- 38 percent of parents expect no financial aid at all, up from 28 percent last year