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Sold More Shares

May 25th, 2016 at 08:47 pm

I sold $2,200 worth of shares from my daughter's educational savings account yesterday. The market was up and the price of shares was higher than the last time I sold. Of course, they are up again today, too.

I have now withdrawn the funds we paid to the University for the spring semester in full. In another three months, we'll owe more money. Joy.

At one point, I thought we would use the Post 911 GI Bill for sophomore and junior years and use the remaining funds for senior year. If she goes beyond that, we were thinking loans. However, we did learn that the GI Bill will cover out of state tuition in full, thus when her scholarship runs after senior year, it may be best to use some of those funds for the fifth year.

Now we are thinking we should use our own funds (the ESA primarily) to pay for sophomore year. I would like to delay taking any loans out as long as possible, so I could see using the Post 911 GI Bill for junior year, then loans for senior year(likely in daughter's name) and finally use GI Bill for the final (fifth) year.

This college stuff is stressful! I can see why some people just take out loans and don't think about it. Smile Not that I really want to end up with that result.

6 Responses to “Sold More Shares”

  1. My English Castle Says:

    I'm counting on you to coach me through in four years!

  2. creditcardfree Says:

    I'll try! It is an interesting beast this college stuff. Smile

  3. LivingAlmostLarge Says:

    Why wouldn't she just finish in four years? What happens if she does? Doesn't it make more sense to use give bill first? Then money in case you need less from finishing early?

  4. creditcardfree Says:

    LAL, she is a double major. The likelihood of finishing in four years is slim. It could still change if she drops the music major and just does a minor. She needs a minor at a minimum for her primary degree.

    I do get your point and that was my original plan, but as an out of state student with a very nice FOUR year scholarship the tuition cost will be significantly higher the fifth year. The Post 911 GI Bill will cover the entire out of state cost.

  5. Michele Says:

    CCF - Add me to the list of learning things about this subject from you (along with MEC). Very informative post(s). Thank you

  6. LivingAlmostLarge Says:

    That makes more sense. I didn't realize the scholarship was covering most of the first four years.

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