Originally Posted by JonLaw
One of my college roomates had this happen to him. He could either go to Dartmouth or his parents would keep the $100,000 for him and give it to him later. His mother died and he never got the $100,000.

In my case, my mother died and my father sold her inherited family assets to give to his new wife instead of paying for my sisters to go to school. His new wife decided they needed to take out loans. I didn't get any money for law school and got to take out loans.

It's good to establish trusts to avoid such scenarios.

A separate point is that if parents are willing to spend a fixed amount on the higher education of a child, that child should be allowed to attend a cheaper undergrad school (or graduate in three years because of A.P. credits) and to spend the remainder on professional school.


"To see what is in front of one's nose needs a constant struggle." - George Orwell