Should parents pay for their kids to go to college if they can afford it?

Question

Should parents try to pay for their kids to go to college or should they be investing the money for their own retirement?

Answer 1

If you can afford to help out, I think you should. If you are an older parent as I am, then retirement has to come first. After all, what's the guarantee that your children will take care of you if you need it? Then you spent all that money on them instead of you who will be needing it worse than them. Don't forget, they have many years ahead of them to pay off their schooling. How many years do we have for our retirement?

Answer 2

Parents should pay for their childrens education. I dont think they should dip into their own retirement as there are many other options like scolarships and grants.

Opps read question wrong a bit.
I think a student with parents help should try to get grants, loans, scholarships whatever is available but help the child some too.

Answer 3

No. I don't think a parent should pay for their child's college education. I know from experience what will end up happening is the child taking advantage of the situation. I think a child should earn their own way into college, by good grades and getting a part-time job when they are 16 to help. If my children show me this, then I might help them, but I am not pay for the whole thing.

Answer 4

Well, it all depends.

College is not a birth right, and it isn't something a parent is obligated to do for their kids. But money for retirement is something that is very necessary.

All of the investment experts I've spoken to told my husband and I our retirement funds are more important than our daughter's college fund, and should be treated as such.

Both my husband and I paid our own way through college, even doing master's degrees. I will tell you that I appreciated my schooling by paying for it myself. I think it was much more important to me because I was shelling out the money, and I was working to pay for things. I think if someone would have paid my way, I would have done something like some of my college friends did (like spend all of my money on beer and parties, and just wasting their time in school). My husband agrees.

We still have a college fund for our daughter (she is 17 months old), but we did it so she could go to any school she desires to attend. More than likely, by the time she goes off to college, she will have to work to help cover the extra costs anyways. We will encourage her to do just that, and to truly appreciate her education, and not squander her time away in college and come away with nothing more than a hangover.

Answer 5

I think children should have the support of there parents. I worked through school and paid for my own schooling due to my parents not being the smartest when it comes to this kind of thing. I'm sure if I would have had the support of my parents helping me along I would have gone a lot further.... I'm hard on myself and have my BS in business but would have liked to do a lot more....but had to work in order to live... :-) I will support my child... I have already purchased a prepaid college tuition for my son!!

Answer 6

Yes i think if they can then they should. A parent should care about their childs future if they can in anyway make there kids life easier and help them become succsessful and well educated then they should try. I think its a good investment if your kid becomes succsessful then you won't need retirement money because your children will support you.

Answer 7

I think Suze Orman said in Oprah magazine a year or so ago, that you need to put away for yourself. Maybe help a bit, but take care of you. YOu can't be a good grandparent when all of that education ends up in a high-powered career, now can you? You can only be a burden, and then what good is all that money?

Answer 8

I think they should pay for their kids to go to college if they can afford it. I think that would be by far, the best investment. I would be more worried about my kid's well being more than my own.

Answer 9

University/college is important. But the kid needs to learn that things aren't always free. I paid for my education 100%, but my sister had split her's with our parents down the middle. Either situation works. Don't just hand it to them.

Answer 10

their own retirement. you can always get grants, scholarships and loans and get the same education as everyone else but when old if you do not have any savings the little bit of assistance available is not adequate.