There are some ways out of this. If your 18 year old enlists in the military, gets married or has a child then mom and dad are out of the equaision. Technicalities but important none the less.
Side note with respect to loan forgiveness. If you child is not at a DIRECT LENING school as opposed to schools using the FFELP program they will have to consolidate the loans with the Direct lending program to qualify for the Loan Forgiveness.
With that in mind understand that any borrower incentives offered now would be lost if the loans wer consolidated so there are some trade offs.
Additionally if there is any waiver of origination fees you typically need to keep you loans with that organization for 2 years or they will charge you back on the fee. It is spelled out in the paperwork and makes sense becasue they would lose money if they paid the fee never collected a dollar and then had someone buy the loan out.
Good Luck
Would not have used all of the 529 during the first 2 years might have had the student borrow and spread the 529 monies out over the 4 years. Market is tanking so might have worked to your advantage.
