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

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

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[quote=Anonymous][quote=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. [/quote]

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.[/quote]

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