(Closed) How much financial help should parents give college student?

posted 3 years ago in Parenting
Post # 2
Member
2417 posts
Buzzing bee

I was a foster kid, so no one paid for anything. I don’t think college kids should feel entitled to ANY help, honestly, unless their parents forced them to go somewhere super expensive with higher-than-they-can-afford living expenses. 

Post # 3
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2417 posts
Buzzing bee

(You can add a poll if you want to show results to someone)

 

Post # 4
Member
2942 posts
Sugar bee
  • Wedding: May 2014

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Carolsays :  Parents should pay for what they can comfortably afford without putting their own financial future at risk.  That can be nothing or everything.  Every family is different.  

I personally would not pay more than that.  The people who I saw do best after college had at least a part time job for spending money. Having a job that you can prove that you showed up for is just as important to a future employer as a degree.  I can safely say, I got my job over a competitor for the same job not because of my degree, but my work experience of just holding a job. 

Post # 5
Member
6809 posts
Busy Beekeeper
  • Wedding: June 2015

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Carolsays :  This is entirely up to you as the parent.  Mine paid for everything but casual spending money – so gas, snacks, new clothes, going out with friends.  But just because they could doesn’t mean everyone has to or is able.  It sounds like you are doing the same (or whoever you are referring to).  She should be able to manage on her own with a summer or weekend job.  If she can’t, time to look into financial management courses.

Post # 6
Member
47289 posts
Honey Beekeeper
  • Wedding: November 1999

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Carolsays :  As much or as little as they choose.  Count me in the group that thinks parents should prioritize saving for their retirement over paying for college. Young people have years ahead of them to pay back student loans and save for their own retirement.

Post # 7
Member
7474 posts
Busy Beekeeper
  • Wedding: October 2014

Family paid for 18 years of food, clothes and shelter for freshman. Family has done enough.

Post # 8
Member
58 posts
Worker bee
  • Wedding: July 2016

I don’t think college students should EXPECT anything. That said, I had my tuition/fees/room/board paid for with academic merit-based scholarships.

My parents kept me on their health insurance and car insurance plan. They paid for my cell phone (back in the day which was about $20/mo for minutes- no data plan back then!) and a gas card with $50/mo. I had a paid-for car I drove. I always had a job while in college to pay for anything I wanted to do (eat out, go places, etc.)

Post # 9
Member
10008 posts
Sugar Beekeeper
  • Wedding: August 2016

My parents completely financially supported me while in college. It’s what both of their parents did for them so it’s what they did for me and my brother. We worked summer jobs but did not work during the school year. I have an MA that was paid for by my progam along with a monthly stipend, my brother is now in law school which is mostly paid for by scholarships but my parents are covering the portion of tution that isn’t covered by the scholarships.

We are both extremely grateful to our parents for this. It means no student debt for us and allowed us to soley focus on our studies while in college which let us both graduate in 3 years instead of 4. 

 My husband’s parents paid a set amount toward my husband and his sibiling’s tution. His sister went to a private school in California so she took out a lot of student loans even with her parents help, my husband went to an out-of-state school for one year then transferred to in-state to pay less in tution so he has very minimal student loans, his brother went to the most affordable in-state school and lived at home so he entirely covered tuition between what his parents gave him and working during the summers.

My parents and his parents made vaild choices. I don’t think there’s one right answer to what parents should do.

Post # 10
Member
1745 posts
Bumble bee

I think there’s more appreciation if someone has some ‘skin in the game’, whether that’s a 12 year old chipping in some small amount for a game/bike/some other expensive desired object, or a college freshman starting to show some financial responsibility.  Teaching a child how to prioritize, spend responsibly, and start to be an adult is a part of parenting.      

Post # 11
Member
8940 posts
Buzzing Beekeeper

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Carolsays :  There’s no “should” about it. It depends on what the parents are willing and able to give, how much the kid is working at it for themself, whether they appreciate it or not…. There are a lot of factors.

Post # 12
Member
1115 posts
Bumble bee
  • Wedding: September 2017 - Mississauga Convention Centre

My parents paid for tuition and books as long as I went to a university close to home

Post # 13
Member
4693 posts
Honey bee

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Carolsays :  My parents paid for everything…bachelor’s degree, health insurance, car insurance, living expenses. But I went to a local university so I still lived at home and just drove to school daily. When I started working full time professionally I continued to live at home to save money and my parents were fine with that. I paid for my master’s degree and my employer paid for about 1/3 of my tuition. I could only take one class at a time since I was working. 

ETA: I think my situation was more comfy than others because most people I know only got partial or did not get any help during their bachelor’s degree years. Many of them had to work and go to school simultaneously to support themselves or get loans and on top of that, had to live on their own. In a way, that’s an advantage because they learned to be independent at a very young age. 

Post # 14
Member
9524 posts
Buzzing Beekeeper

Completely depends on the parent and child. Growing up I was told tuition would be provided if I want to community college then local University. I did not so I paid for my schooling and living expenses. I know others that had everything paid, some were successful as adults and others were not. Completely depends

Post # 15
Member
174 posts
Blushing bee

My parents paid for nothing. No financial aid because FAFSA said they could pay far more than they could. I took out student loans and worked throughout college. I graduated summa cum laude even while working. Working never took away my studies, just some parties and kept me out of trouble. 

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