My parents got similarly antsy about stopping financial support when I hadn't yet finished my degree (and I didn't take any extra time). I think they were just ready to be done financially and had some horror stories stuck in their heads about others who did fail to launch. Their attitude added a ton of stress to our relationship and felt like they didn't trust me to follow through and be successful.

I'd let your daughter know that your financial support is hard to manage and ask what she thinks she can do to help more. Work with her. Talk to her. Don't just tell her you're no longer paying certain bills. She is taking on significant financial responsibilities with $7k in student loans. She is working hard. She is being responsible. She doesn't need ultimatums.

Then let her know how excited you are for her to start her career after graduation--she'll need to fully support herself then. It sounds like she's chosen a super responsible major where she should make a good income and have good job options. You shouldn't micromanage what internship she takes or doesn't take. She's an adult and *should* pivot to a different employer if she can and her current internship isn't somewhere she wants to work. It has to be up to her to find employment. That's up to her. Butt out.

I think the "how" (you saying .. she will need to work 1/2 more days a week) is not your business. Decide the total amount of what you can give her and give it. As you said, she can take out loans.

Now, now is the time to stop the support. Passed the time really.

Being an accountant is as safe as it gets nowadays - shortage of millions and the closest one gets to a sure thing in the workforce. Fund her now and she'll be making a very good living very soon. It's a difficult major and difficult exams. Do what you can. It will pay off

I would pay through graduation. She could help out by doing door dash or something easy on her days off. She would probably earn enough to be able to cover the car payment easily.

If its a five year program and you can, you pay for all of it. She needs to cut back her expenses.

CPA is a five year program. It’s harder than the bar exam. I’ve done both.

Anonymous wrote:Absolutely don't quit the internship, but try to get one with PwC, Deloitte, BDO, KPMG or E&Y where she can get paid decently. Don't quit supporting her now when she's almost done. She will also need a lot of time to study for the CPA exam. It is not easy.

This. The CPA exam is a beast. I would not force her to work more while studying for that and taking classes. Do what you can afford, but don't go into your own emergency funds or retirement. If she passes that CPA her future is quite bright on the job market. Another idea if you can afford it, but feel like it's too much money is maybe loan her some of the money, but without interest and make her payment plan once she has a job very easy and low stress?

Anonymous wrote:What kind of arrangement did you make with your kid in terms of support through college years (and beyond)?
Did you plan for 4 and now it is 5? If so, that would be a reason to change the level of support.
Did something in your personal financial picture change, from what you thought it would be? If so, that would be another reason to change the level of support?
Those are very black-and-white, matter of fact reasons to change the level of support.
It sounds like what is happening here is more that you don't approve of some of the individual choices your kid is making. I realize it's still your money, and I guess you always have the technical right to change the level of support, but I think you need to be honest with yourself and your kid about the reasons.
Perhaps before you deliver an ultimatum, try to get a feel for what the kid's plan is for post college. If they have a reasonable path to get to the end goal, even if it's not exactly the route that you personally would have taken, you need to consider giving them some autonomy.

OP—original plan was to fund a four year degree. We will talk to her about her plans after graduation.

Anonymous wrote:Is the agency internship for an agency offer? Do you have a backup plan for the federal loan. I would not count on either.

If supporting her fifth year is a strain, it’s time for a conversation. There is nothing wrong with wanting to have a fun final year, but it’s also not parents’ responsibility to provide that if they aren’t in the position to do it. If she needs to work she needs to work. Have the conversation now so she can plan for an enjoyable 5th year that includes some working.

OP—yes. If she finishes the internship this summer and gets her CPA, there is an automatic offer. I believe they will make an offer before she gets her CPA, she just needs to provide a date and pass the exam.

Is the agency internship for an agency offer? Do you have a backup plan for the federal loan. I would not count on either.

If supporting her fifth year is a strain, it’s time for a conversation. There is nothing wrong with wanting to have a fun final year, but it’s also not parents’ responsibility to provide that if they aren’t in the position to do it. If she needs to work she needs to work. Have the conversation now so she can plan for an enjoyable 5th year that includes some working.

I would provide support through college graduation and one transition year - mostly in the form of helping with a down payment for an apartment and co-signing. But only if they have a job offer!

If they have no job and no money, they’d have to move home. In general, i would encourage them to live in a city with roommates and no car.

What kind of arrangement did you make with your kid in terms of support through college years (and beyond)?
Did you plan for 4 and now it is 5? If so, that would be a reason to change the level of support.
Did something in your personal financial picture change, from what you thought it would be? If so, that would be another reason to change the level of support?
Those are very black-and-white, matter of fact reasons to change the level of support.
It sounds like what is happening here is more that you don't approve of some of the individual choices your kid is making. I realize it's still your money, and I guess you always have the technical right to change the level of support, but I think you need to be honest with yourself and your kid about the reasons.
Perhaps before you deliver an ultimatum, try to get a feel for what the kid's plan is for post college. If they have a reasonable path to get to the end goal, even if it's not exactly the route that you personally would have taken, you need to consider giving them some autonomy.

Absolutely don't quit the internship, but try to get one with PwC, Deloitte, BDO, KPMG or E&Y where she can get paid decently. Don't quit supporting her now when she's almost done. She will also need a lot of time to study for the CPA exam. It is not easy.

We have a college student in a five-year degree program. We’re struggling to support her going into fifth year. We covered four years of tuition plus car payments, insurance, apartment, and all medical. She does work, but only a couple of days a week. Classes are three days a week, so it leaves another one or two days she could be working. She also told us that she plans to take all hard classes this year and have an easy fifth year, so she can have fun. Also, wants to quit her summer internship with the gov’t agency she worked for every summer since her second year. It will lead to a firm job offer if she will finish her internship this summer and passes her CPA exam.

Current plan is she takes out gov’t loan to cover her last year ~7k. We will still be paying for her apartment. I am proposing to both DH and her to start paying for her own car insurance (starting this summer) and her car payment (starting in January 2026. She will need to work 1/2 more days a week. I am also not okay with her quitting her internship with the current economic outlook. Thoughts?