Let your kids pay for their college education
Posted
Dec 10 2007, 05:41 PM
by
Karen Datko
Rating:
Mighty Bargain Hunter writes about a family he knows with lots of kids, "somewhere between 'The Brady Bunch' and 'Cheaper by the Dozen.'" How will the parents pay for their children's higher education? They won't. Once the kids reach 18, they're on their own, and they've been told, so they won't be surprised.
This defies the stereotypes of indulgent parents and "it's-all-about-me" teenagers who expect mom and dad to give them whatever they want. MBH makes the case that it's a very good idea. It's fair, it allows the kids to prepare, and it forces them to think seriously about the future. It also will prompt them to look for financial aid for college, which can be found. "Most importantly," MBH writes, "it doesn’t place undue stress on the parents’ retirement. Saving for college is a sacrifice, but it shouldn’t be at the expense of some self-funded financial security in old age."