Do you think it is absolutly necessary to provide your child's college funds?

Question

I went to college (paid for by my father), but wasted my time. I am fine now and have no regrets. I was wondering how many people plan for this even if they dont know if their child wants to go or will do well.My attitude is if they want it bad enough, they will make sure they go themselves through scolarships, grants and financial aid.

Answer 1

For many people, saving money for your children's college education is a dream that will never be realized. Today, more often than not, both parents work just to pey the current bills. I came from a large family and my dad was a truck driver. My mom was a beautician but quit to raise a family. Many times we had to miss out on things because we knew there wouldn't be money for it. I lived for two years with a broken front tooth before my parents found out about it because I knew they couldn't afford to get it fixed.
I have told my children that if they desire to go to college, I will try to help in any way I can, but, I won't be able to just pay for it outright. I also believe that you can't truly appreciate something unless some of the blood, sweat, and tears it took to get it were yours.

Answer 2

Remember, the child you are suporting today, will be the one who will be picking out your nursing home later.

Think of it as an investment into your future if you can't see that yes, you should try to provide a higher education if you can.

Alot of parents have their children start in a junior college. It's alot cheaper and the schools are more personnal.

The benefit to a larger college the first year, is getting into a frat/sorority. I know that can sound superficial, but in this world it's not what you know, but who you know. They can make lifelong contacts that will help them when it's time to look for a job.

My brother was at a party right after he graduated and was smashed and ran into someone that was from the same frat., in their drunkedness they exchanged infor. and the guy gave him a job. My brother is now a multimillionare and lives high on the hog.

Just because you messed up, doesn't mean they will.

Set ground rules. As long as they are making certain grades, you'll pay. If they don't they'll have to pay you back, lose the car, whatever works for your situation.

It sounds like you just don't want to take on your responsibilties and are looking for someone to give you the green light to not do for your children, what your dad did for you.

If they don't have the means to take care of themselves, they sure aren't going to be able to take care of you in those twightlight years. What you put out is what you get back.

Answer 3

I agree with you. Virtually inevitably, whatever a child has handed to them, they appreciate that much less. The more a child, and young adult, has to work for something, the more they appreciate it. Helping a child out if you truly can afford it is one thing, and only if they appreciate it. I would say, take it away from them in a second if they start screwing up, but if you can't afford it, it's ridiculous to put yourself in debt over it. They can get school loans that are far lower interest rates than any sort of loan a parent could get. All the kids in my family put themselves through. Never had anything handed to us, and, without sounding arrogant, we all turned out to be pretty decent, responsible adults.

Answer 4

that is not mandatory, whether that could be a solid theory. i've got been out of faculty ten years now, and that i've got nevertheless have been given loans to pay off. i don't be apologetic approximately my training one bit, yet I nevertheless prefer to return to college! via the time i'm achieved identifying to purchase mine, my young toddlers would be commencing! via the time they are out of the highschool, they are going to each and each have around $10K. that may not plenty, in case you fairly think of roughly it. whether that could be a start up. whether you're actually not saving for a school fund, that could be a solid theory to maintain a chit rates account besides. some funds set aside a week can relatively upload up, and might relatively be a existence-saver once you easily prefer it.

Answer 5

I think that if a parent can afford to pay for the child's college tuition then they should but with conditions. I have started saving money for my son to go to college. He is only 7 months old, but I also plan on making him work hard and apply for scholarships when he is ready for college.

I have no intention on bank-rolling a 4 year party for my son. If he cannot keep grades up during his first year, then I will not continue to pay for his tuition and if he really wants to continue in school then he will have to pay for it himself.

My b/f from high school was like this, both her and her sister. Her sister got a full academic scholarship and then flunked out her first semester due to partying, her parents told her they would not pay her tuition and if she really wanted to go she would have to pay for it herself. She did and graduated 5 years later. Her sister, my b/f, didn't get a big scholarship and her parents paid for her 1st year, she didn't do very well but promised she would try harder. They paid for her next semester and she again flunked. At that point they quit paying for her tuition. She never went back to school.

Answer 6

We're going to try to provide as much as we can for their college expenses. We've had a 529 plan since my son was just a few months old. I certainly wouldn't want money to be an excuse for them NOT to go to college. I know that at our local state university fees have doubled in the last 10 years, and at that rate of increase it will be nearly impossible to make ends meet relying on just scholarships, grants, and loans.

But, to each his own, there's certainly no law that says you have to help your child with college.

Answer 7

No.
No one paid for my college education expect ME, and that was the best way to appreciate it, and really work for it.
I'd like to save something for my children, but there's no way in the world we will be able to save enough for ALL our children to have a FULLY funded college education. Especially with the cost of private colleges, and tuitions constantly on the rise.
We'll help a little, but if they *really* want it, they can work, get scholarships and grants, or figure out another way.

Answer 8

Nope! I am a college graduate and I paid for it myself. Some people do well without college, like my husband who owns his own company. I will save a little, but my retirement is more important right now. Most experts will say get out of debt, plan for retirement, then do college.

Answer 9

i definitely don't think it's necessary to provide your child's college funds...there are grants, loans and scholarships to assist students in the process...i received them all, plus worked 2 jobs to get through...

my family is poor and did what they could to send me a little money here and there which i used for "fun" things like going out to eat or whatever...and books...

Answer 10

My parents simply couldn't afford it. They were hardworking middle-class folks and I did not want to burden them. As you put it, I FOUND a way to go. You want something badly enough you'll work for it. I enlisted in the military. One of the best experiences of my life and I now have an advanced degree.

I think if a parent CAN send their kids, that's great! But I do NOT think a kid should EXPECT that of their parents.

A lesson from my parents: the only person you should totally rely on is yourself. My parents are supportive and great -- but they can't do things FOR me...