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Personal Finance - Credit Cards
Written by The Queen of Frugal Living   
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College: Make Sure Your Kids Pay Their Share
Debt and Laziness
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As parents proudly watched the recent crop of college graduates walk to the podium to pick up their diplomas, they couldn't help but be concerned about the stack full of college loans their kids were hauling on their backs. Why isn’t anyone speaking out about stopping the next generation from making that same mistake?

It's almost criminal to burden newly minted adults with anywhere form $20,000 to $80,000 in debt for the privilege of taking that stroll across the stage.

Of course, the parents had everything to say about how much debt their kids would accumulate. The standard rationale is that loans were the only way for their kid to concentrate on their studies and relieved them of the burden of working their way through college.

I’m calling hogwash on that one.  When they show up for their first job interview and they have no work experience, what's that going to look like on a resume?  And let me understand, you put them in debt until they reach their forties so that they can see how late they can stay up and party in their early twenties.  Because that’s what they're doing with their student loan money.

I'm getting tired of hearing parents whine about their 'obligation' to pay their child’s college tuition.  Why?  Whatever happened to letting them earn their way through school and learning the value of a dollar?  Many working people pay for their tuition, while holding down full time jobs and raising families. So there should be no excuse for your kid to hang out at the pool hall between lectures.

Besides, how hard do you think the first year or college is? It’s not! The first year is mostly a filtering process to determine if the kid is halfway serious about his studies or if he's there for the country club ambiance.

What concerned parents should do is start sending those kids to work during the summer to pay for books, room essentials, and so forth. Heck, start them from the summer after their sophomore year in high school. Prepare a price list of all these things they'll need to haul off to college and have them start saving up for them.. Teaching your college bound kids responsibility at a young age helps them to gain that confidence needed when they go off to college.


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