Save $2-300 per month? And he feels this is being responsible? What emergency could be handled on $300? In the NNJ community, $300 is gas money for one car!
And the school has him making deternimations of a financial matter? And I thought the BP tuition boards were underqualified.
I know very little about NNJ, but I do know a thing or two about money. And rule # 1 is, a head of household needs 6 months of the annual budget in the bank, ready cash. Not stocks, not equity in the home; liquid m-o-n-e-y.
That would mean if you make (and presumibly spend 80% of) $250k, you would need to have close to $30k in the bank at at all times. How in the world do they expect that at $300 per month?
(Did they really suggest to someone to draw against their house!? PLease tell me that was a joke)