Conversation on Parents Paying for College

Graduation

The following is a staff writer post from MikeS.  He is a married father of 2.  So, with the cat, he ranks number 5 in the house.  He loves numbers and helping people. Please leave any questions or comments below for either Mike or Crystal. I don’t know how exactly the conversation came up, but my wife, her mother and I were talking about college expenses.  My mother-in-law remarked how she had heard someone talking about how they were not going to be paying for college for their kids.  During the conversation, we talked about a few things.  One discussion point was whether a parent should pay for college.  The other was the plans that, my wife and I, have for our children.  The last was on how having limited student loans have benefited my wife and I financially. To Pay or Not to Pay There is not a right or wrong answer to this question in my opinion.  I do not believe that parents are obligated to pay for higher education for their children.  I believe that once a child reaches the age of 18, that anything a parent does after that is extra. Now, that doesn’t mean that … Read more

Should Parents Pay for College?

should parents pay for college?

A few months ago I wrote about whether I should pay for my childrens’ college.

In that post, I lamented how expensive it would be just to send them to private high school, leaving me nothing to save for their college. For me to pay for high school and college, I’d essentially have to forego saving for retirement, unless I significantly increase my income. I rather use LegalZoom to find the right way to draw up my will and the kids could pay off their loans after I pass on.

There is always an option to pay for some college classes online, but that’s useless unless kids pursue a full degree program. Many different options, still at a price.

So I’d like to examine some arguments on both sides of the issue: The pros and cons of paying for a child’s college.

If you are a high schooler looking for some points to argue to your parents, read on. If you are a parent, you’d probably better read too.

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