So we have some 529 accounts and other savings and 2 kids to send to college. Oldest starts college in the fall - youngest is 2 years behind, so we will be paying for college for the next 6 years to come (at least). My question is less about how to plan and save, and more tactical re which funds/accounts to use first and why.
Sone of it depends on unknowns as you cannot predict the future. My concern, if I use my 529 accounts, what happens if there's a new law passed in 2-3 years that forgives student loan debt, and I have none, because I paid cash?
What's the likelihood there is some new sort of student debt forgiveness in the near future?
Right now only $10k from a 529 can be used to repay student loans. What's the likelihood that amount increases over time?
Is it wise to take out loans now, even few have the money in our 529, then use some 529 funds to repay those loans later?
Again, I don't want to pay cash for college now, only to learn in a few years the amount paid would be forgiven if paid with student loans.
A bit of a gamble, but not too much of a stretch?