Keep Your Student Informed On Your

College Funding Plans! 

Dear Parent,

 Last month, we discussed the soaring costs of a college education.  When most people talk about college planning and saving, they talk to the people with the money: the parents, grandparents, or whoever is funding the student's college education. But there's one person who is usually left out of the equation, and this is the person who usually bears some of the financial burden after graduation: the student. 

With the soaring costs of college, most students have to take out some portion of the expense in student loans.  It is important that the student is included in decisions and discussions early in the process.  Even though most prospective college students are young and might not comprehend the ins and outs of college loans, they should still be told the facts.  They are going to have to pay back these loans and it is something they will face when they get their diploma. This isn't a bad thing and shouldn't be done with the purpose of scaring the student, but to inform them.  If it is not talked over before the “big college decisions” start, it could lead to more confusion and questions like "why didn't you tell me sooner"?

Just like any other aspect of a parent/child relationship, communication is the key and could prevent confusion in the future.  As you determine your college funding plan, you will know if it may possible that your student will have to take out some student loans.  Begin to talk with them about it now so there are no “surprises”.  This way everyone is well informed as college decisions are being made. 

Until next month…Best Wishes! 

Randy Stoltz, President