Reply to Is it normal to have no idea about family money?

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[quote=Anonymous][quote=Anonymous]Someone said parents with money don’t let their kids have student loans. I don’t know about that. Some parents want their kids to have skin in the game. $40k isn’t a huge amount and OP already paid it off by age 25.[/quote]

You don't have to make your kids take student loans to "have skin in the game".  You can make them have a 30-40hr/week job during the summers and work part time on xmas break for spending money.  As long as they are getting good grades and working towards a degree, it seems silly if you have money to start your kid off with student loans/$40K in debt.  For the majority of kids, they are extremely grateful to not have students loans and are not entitled brats.  As long as our kids continue doing well in school and being decent humans without being overly entitled, they will get their college without loans.   I guess I do not fully understand the "must have skin in the game" other than working a summer job rather than just sitting at home doing nothing or being out blowing mommy & daddy's money.  [/quote]

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