Hi Jack --with only 1 year to work with, my advice to the woman is:
1) Borrow against the equity built up in their home
2) If the woman is not currently employed, she should look for work that pays $20K per year -- preferably more.
3) Apply for Scholarships; student loans.
4) Make sure the son understands that any money he makes during his summers will have to help pay for his college living expenses. He should also get a part time job while at school.
Their college costs should be taken care of in about 6 - 8 years.
Hope that helps,
Chris |
