You simply can’t believe it. Seems like just yesterday, you were bringing your child home from the
hospital, and now your daughter or son is about to walk across a platform to receive their high school
diploma. One huge milestone is done, but another one is right before the both of you: them earning a
college degree.
For years, it’s been a debatable topic: Should a parent contribute to their child’s college education? After
all, being that it’s something that prepares a child for living on their own as an adult, shouldn’t it be
something that they pay for independently?
Enough time spent on this earth will cause you to realize that very few things are that black-and-white or
cut-and-dried. In making the decision of whether or not to contribute to your child’s college education,
here are some strong factors to consider.
Education Is an Investment
According to the U.S. Census Bureau, people with a college degree earn up to four times more money
than those with only a high school diploma. Therefore, when it comes to equipping your child with the
tools needed to be an accomplished adult, this is a great reason to consider assisting them by financially
contributing to their college education.
Education Should Be a Student’s Top Priority
There are many studies to support the fact that a lot of young college students either don’t reach their
fullest academic potential or they continue to drop out of college because of the financial pressure that’s
placed upon them with they have to pay for their college education on their own. With the average price
of attending a private non-profit college or university currently being somewhere between $35,000, even
a part-time job barely puts in a dent when it comes to the cost of tuition and room and board. When your
child has financial assistance, it takes some of the pressure off financially; this frees them up to put more
focus on where it really belongs: their classwork.
Your Financial Support Makes Them Feel Supported
Telling your child that you believe in them is one thing. Showing them that you do by making the sacrifice
to help them with their college education is far more effective. This doesn’t mean that you have to, or even
should, pay for all of their education. After all, [Read more…]