Much to the relief of shameless freeloaders Barack and Michelle Obama, their daughter Malia will be entering college this fall just before her father leaves office. This means that the first couple will have the opportunity to pay for one year of their daughter’s hefty college tuition with tax dollars from the American people.
According to the New York Post, tuition alone for the colleges on Malia’s list range from $40,000-$50,000. This does not include room and board as well as other expenses like textbooks, so the actual cost of Malia’s freshman year will be far more than that.
The Obamas have often bragged that they planned ahead for their daughters’ college education by investing money in 529 college savings plans (which are named after a section in federal tax law). However, each of the four tax-free savings accounts are valued at between $50,000-$100,000. This means they only have money to pay for four of the eight years their two daughters will be in college.
Historically, the Obamas have had no problem spending millions of American tax dollars on their own lavish lifestyles. We can only assume that they will not be able to resist freeloading off the American people one more time to send Malia to college.
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