Sensitive Topic Paying for children's college

[Slithytoves]

Ahh.. hypotheticals

I could take the easy way out and say that we lived in a large city with just about every possible tertiary course available, but If that situation had arisen, I would have firstly assessed how passionate he really was about the subject. Then, if it really was a good option for him I would have offered him a deal where maybe I paid for the fees & he worked part-time to cover his accommodation & food (or vice-versa).

I think most parents want to see their children succeed, but they must eventually succeed by themselves. The late-teens & early twenties are for most young adults a transition phase and (IMHO ) where they must learn what is required to be fully independent. Assistance from parents during this phase is invaluable, but so is the realisation by the young adult of what is required to be a fully independent adult.

I realise that many parents are not in a position to make much of a contribution, but those are my thoughts.

I like those thoughts. You sound like a very thoughtful, reasonable parent. Lucky kids.

I do believe that it is important for parents to financially support their children's education if they can afford it. After all, why have children if you are not going to put in the effort in order to ensure that they have a successful life? However I think this support should be within reason, as university is an important time to learn how to manage ones finances, and realise that if one can't live within their budget they have to take responsibility for that.

Agreed.

University education is so expensive in the States that I really do think prospective parents should think long and hard about their capacity to provide educational funding before having children. There is a ton of anecdotal evidence all around us that even young adults who do get degrees are struggling, so it just makes sense that this is a major consideration if you want your kids to get the best possible start in their adult lives.

I don't mind sharing that I had to file bankruptcy not long ago. I didn't spend recklessly, but a major breakdown knocked me out of the workforce for a couple of years so I eventually had no way to repay my debts. Student loan debt is not dischargeable in bankruptcy in this country. Now I'm left with a very big bill I can't pay. My bankruptcy attorney sits on a statewide committee aimed at dealing with the mounting student loan debt crisis. She says my situation is common, and that unless something is done to forgive at least part of the debt of many thousands of students who are delinquent or in default, we are headed for serious trouble. I feel bad about my contribution to this national crisis. The likely outcome is that the government is going to have to write of billions of dollars in federal student loan debt, which I know will make it much harder for rising generations to get student loans.

What we really need is to get the cost of education under control, immediately. A recent documentary about this issue called Ivory Tower questions the cost and value of higher education as well as addressing the student loan debt crisis, and I literally sat and vibrated with anxiety for hours after watching it. I thought about my young niece and nephews. We've really made a horrible mess.