Reply to Make our kids take loans and pay them at the end as surprise, good idea?

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[quote=Anonymous]I think if you have a good relationship with your dc, they have been taught to be appreciative about what they have, and have a general understanding of finance then no reason to lie or fake it.

We emphasized accountability on keeping track of major so that they would graduate in 4 yrs, we asked that they work summers to have spending money, and we also discussed importance of going to class and doing the best they could ( did not demand a certain grade) so they did not have to re- take a course and we pay twice, etc.

One graduated on time and one on track to graduate on time. One at a public and one at a private but they both had/have friends who have loans or struggle. They know they are quite fortunate and share that with us. Really no need to pretend otherwise.

I’m sure some is pure luck in that we got two very non- entitled dc but I think it also helped that we discussed finances with them, how to be responsible/ make good choices, and that their choices impact their future selves.

Be honest and see how they do. Use year one as your trial year. If you think they are wasting your money by not going to class, failing, etc. have the discussion then of them paying for the rest.

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