The circumstances surrounding the cost of college continue to worsen. As more and more schools are seeing costs of attending and tuition increasing, less families are feeling comfortable about sending their children to college. What’s more, some students have a gross misperception about the costs associated with the college experience of their dreams. Whether that be related to not understanding the scale of the debt that they’d be in as a result of borrowing or expecting that their parents will cover the entire cost of college; not many children truly grasp the concept. As most families are not financially able to make such a commitment, it’s important to set expectations early and often. Let your child know how much money, if any, you plan to contribute per year (or over the lifetime of their college career). Similarly, if you (or a grandparent/other relative) have earmarked funds for your student’s college expenses, let them know what to expect. This information will be extremely valuable as they begin exploring their options and attempting to find the school that matches their needs. To learn more about the ways in which you can keep your child involved in these money discussions, read ahead to the infographic coupled alongside this post.
The Parent-Student Relationship In College Searches for more information on the college search process, be sure to check out the Encourage App