Is there any empirical evidence on whether kids who must pay part of own college costs do better?

[Anonymous]

Curious... I've always assumed I should pay fully for my kids' college costs if I possibly can, given how crippling student debt can be and so on. But I've seen many people argue that kids won't appreciate the "value" of college-- and thus won't work hard or take classes seriously -- with no "skin in the game." Intuitively, that makes sense, and it makes me wonder if after all I shouldn't plan to fund, say, just 75% of my kids college costs or something like that, and tell them the rest is on them.

But-- intuitively sensible as the claim is, do we know if it is true? Is anyone aware of any research on this?

thanks!

[Anonymous]

Google it. just saw some links but didn't bother to open them. I personally do believe kids should pay for some of college costs, even if it is just spending money or food or books. It not only gives them a stake in it, but helps them develop a better sense of $ responsibility, budgeting, and just general experience in a work environment.

[Anonymous]

There is research on working during college. The more hours that a kid works while in college, the less likely they are to graduate.

[Anonymous]

Anonymous wrote:Google it. just saw some links but didn't bother to open them. I personally do believe kids should pay for some of college costs, even if it is just spending money or food or books. It not only gives them a stake in it, but helps them develop a better sense of $ responsibility, budgeting, and just general experience in a work environment.

We're planning on covering college costs, but spending money will come from summer jobs. Seems like a nice compromise.

[Anonymous]

Anonymous wrote:There is research on working during college. The more hours that a kid works while in college, the less likely they are to graduate.

Obviously depends on how many hours they work. I did work my way through college, but I had to pay for a lot of it and yes, my grades suffered. It was hard. But I do feel a sense of accomplishment from it. And also, I think if you put on your resume your work experience as well as your college years, the prospective employer will see that you worked your way through college. Personally, I would give preference to someone who worked while in school than someone who didn't. Yes, I"m being biased here, but I do feel it shows the person can juggle things better.

[Anonymous]

I posted on the other thread as well -- I worked during summers as well as the school year, and that money went toward spending and incidental expenses, while my parents covered tuition & fees, room and board.

I only worked about 12 hours a week, so I didn't make all that much -- certainly nowhere near putting myself through school. Beyond money, however, the term-time job gave my days additional structure (which I sorely needed).

I had a roommate whose parents gave her an allowance so she wouldn't have to work. However, the allowance was less than half what I was earning, so she was constantly broke, and became a terrible moocher. She also became virtually nocturnal for much of our senior year, which in retrospect was most likely depression (not that any of us recognized that at the time). I really think she would have benefited from a regular work schedule of some sort.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Google it. just saw some links but didn't bother to open them. I personally do believe kids should pay for some of college costs, even if it is just spending money or food or books. It not only gives them a stake in it, but helps them develop a better sense of $ responsibility, budgeting, and just general experience in a work environment.

We're planning on covering college costs, but spending money will come from summer jobs. Seems like a nice compromise.

This is our plan as well. He will need to earn money for books and personal expenses. We will cover tuition.

We may consider asking him to pay some of his tuition, but it would be an amount we think reasonable and achievable and would be more about owning/being responsible than about the $ itself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Google it. just saw some links but didn't bother to open them. I personally do believe kids should pay for some of college costs, even if it is just spending money or food or books. It not only gives them a stake in it, but helps them develop a better sense of $ responsibility, budgeting, and just general experience in a work environment.

We're planning on covering college costs, but spending money will come from summer jobs. Seems like a nice compromise.

Sounds like a plan until they get a really cool (unpaid) internship or decide to spend the summer abroad (taking 2 classes in Rome).

[Anonymous]

Don't know. But older students tend to do well even while juggling a FT job and family responsibilities.

[Anonymous]

Anonymous wrote:There is research on working during college. The more hours that a kid works while in college, the less likely they are to graduate.

What if they're screwing, drugging and drinking (as many are, FYI) while they aren't working?

[Anonymous]

My parents paid for college and I worked hard and did well. It didn't even occur to me not to frankly. Same with DH. My DC is now in college which we are paying for and is working hard. I think it has to do with the values you instill, not whether you require them to work.

[Anonymous]

I think another benefit to them contributing is that they learn to budget and manage money. The kids who get free rides tend to struggle a lot more with money management. Some have parents who continue to financially support them well into adulthood but others are expected to start to pay their own way after college and it is a pretty hectic crash course in life to go from no financial responsibilities to taking on full financial responsibilities.

[Anonymous]

I found this, it is 5 years old though.
http://www.usnews.com/education/blogs/college-cash-101/2009/10/09/7-reasons-to-work-your-way-through-college

[Anonymous]

Anonymous wrote:My parents paid for college and I worked hard and did well. It didn't even occur to me not to frankly. Same with DH. My DC is now in college which we are paying for and is working hard. I think it has to do with the values you instill, not whether you require them to work.

This, my parents paid for my and my sisters college and advanced degrees. We never took advantage of the situation or them and appreciated it. I even more appreciated coming out of school without debt and them unexpectedly helping us with a downpayment (never promised) for our house to make it more affordable. Some of it is parenting and the particular child. I think making a blank statement that you need to pay for it is silly. In all reality, they are paying for it via loans many years later. We never heavily drank, heavily partied and knew the expectations and followed them. It was not a big deal.

[Anonymous]

Anonymous wrote:I think another benefit to them contributing is that they learn to budget and manage money. The kids who get free rides tend to struggle a lot more with money management. Some have parents who continue to financially support them well into adulthood but others are expected to start to pay their own way after college and it is a pretty hectic crash course in life to go from no financial responsibilities to taking on full financial responsibilities.

Funny, I had a free ride. My parents gave me a credit card for emergencies when I was 13-14 and I never abused it. Worked summers but never the school year. My parents have helped us with big things through out the years - why? They have the money and want to. We never ask. They offer. Both my sister and I and our spouses are very responsible with money (which is probably why they help more as they see we "need" a new car and twice now we have made due with the old ones so they offer to help). We have reasonable savings, college funds for the kids, pay all our bills on time/in full. I think it is a justification for parents who can help but choose not to. My parents lived very modestly when we were growing up with the understanding it was so they could help us through college and we are to do the same for our kids. Sometimes living the example you want to set is good enough. The first thing I did upon graduation and first job was to set up a Roth Ira. Pretty good for someone who you said should have no financial common sense.