Do you have a child getting ready to go into college? Are you ready to take on the burden – or stick your child with a lifelong tuition bill? What can you do to offset the feelings of guilt and the fear of being buried financially for years to come?
These are all good questions many of us parents ask ourselves as the time approaches for our child to enter a higher level of education. This can be a very stressful time for all.
Kids today may have to weather the burden for their college tuition well into their forties of their parents cannot afford to send them. The issue is that many college-age kids do not have the credit history that is required to get a loan on their own, so around-and-around it all goes. While many are suited to get more education, the system makes it nearly impossible for this to happen.
There are ways around everything though and parents and college kids just need to learn where to turn to look for those solutions. Some banks and many financial advisors will be able to help. Again, however, affordability is an issue. Again this can cause stress to both parent and child.
It is many parent’s dream to give their child the best of everything. This includes a future. Circumstances don’t always allow for those dreams to come to fruition, however.
With this most recent economic crisis, parents may have lost their ability to provide. Even if they invested in a college tuition program, if their child decided to attend an out-of-state school, only a portion of the tuition would be covered.
Other things to consider are the fact that scholarships and grants are few and far between. Is this a big turnoff? Well, it shouldn’t be, it should be a motivational factor; one that will encourage parents – and teens ready to move on – to consider all possibilities and begin to plan early.
Teens, like all of us from the past, still believe that they are untouchable and that everything will work out in their favor, but there are many things that they can do to ensure this. Studying is the big one. Volunteering is another. Sports and other activities round out the trio of college expectations.
There are many different things that both parents and kids can do to ensure that child’s future. Guilt does not have to be part of the bargain. Proper planning and consideration do, so the best way to make certain that your kid gets into college and has the future that they deserve is to encourage and to back them with your support! Skip the guilt and get on with the future!