Comments on: Financial Independence Week: Paying For Your Child’s Education

By: divinejohnson

divinejohnson — Thu, 05 Feb 2009 07:05:39 +0000

Yea that sounds like a great idea. all those poor kids loitering around because they can’t afford to go to school. with unwanted babies because they got no sex education. I’m sure that will create a wonderful next generation. The “many children left behind” policy.Just visit at http://my-bailoutcash.com/

By: Lazy Man and Money

Lazy Man and Money — Sun, 04 Feb 2007 17:00:35 +0000

The biggest argument for not helping your child at all even if you can afford to do so, is that it gives them a crunch. Think of it like the mother bird teaching the baby how to fly by kicking it out of the nest. I think the baby has to learn quicker out of necessity. Plus it’s always been said that you learn more from failures than from success.

I think it’s best to have a little safety net and at least providing some aid.

By: Angela

Angela — Fri, 02 Feb 2007 12:54:43 +0000

I’d probably add to the “being really open about what you can give” that if its a sum of money, be as informed as possible about what that will buy. For example, is it enough for community college, a state college, a private college, room and board, the EFC, one year etc.

Also, one of the most important things about being fair is that there are different ways of doing it. You can be unfair on the money, if you make it up in other ways and everyone is ok about it.

My parents spent more on my education than on my sister’s because my degree took an extra year and she unexpectedly decided to live at home for a year. This was made fair by the fact that they would have paid for an extra year for her or for her to live away from home if she’d wanted it. We both had the same opportunities from a financial point of view.

By: r

Fri, 02 Feb 2007 01:32:54 +0000

Just one comment on the even-if-I-can-maybe-I-shouldn’t idea for helping kids with college: although I think this may very well be reasonable in some situations, please don’t make the mistake I’ve seen friends make of assuming that “if I made it through on scholarships [some of which I qualified for because my parents were working class and some of which don't exist anymore..] then my kid can, too [despite the fact that my income may disqualify him or her from things that I was able to take advantage of]!”

I paid my own way through college and was very glad to have done so – I think I learned more for having to think through at every stage how to remain competitive for scholarships and keep on applying for them. But, at the same time, I lived someplace with a great state school and had enough parental support during HS that I could do unpaid internships during the summers instead of working in fast food restaurants like many of my friends. That help made a LOT of difference.

By: English Major

English Major — Thu, 01 Feb 2007 18:25:45 +0000

Awesome, thanks.

By: Trent

Trent — Thu, 01 Feb 2007 17:34:54 +0000

English Major: I will talk about that very topic in the near future.

By: English Major

English Major — Thu, 01 Feb 2007 17:29:03 +0000

Could I ask you to elucidate the arguments you see for not helping your children pay for college at all even if you can afford to do so? I’d appreciate your articulate and thoughtful look at a subject I’ve never understood.