You’ve got a kid about to enter college. And of course, you want the best for them: A great education. A bright future. And the foundation for a great career. Besides, you want your kid to have it better than you do. But that raises a question: How good do you have it?
Two futures to consider: Yours and your child’s
With college costs rising much faster than wages, will you have the money down the road to pay off a long-term college loan? If you borrow a large amount of money to help secure your child’s future, will you be sacrificing your own? And how do you tell your kid that while their potential is limitless, the funding to support their dreams isn’t?
These are issues many parents dread to face. And unfortunately, there are loan options out there that make it easy to push the problem years down the road, …until the debt has gotten so big it drags down every other part of life.
But don’t worry. You can help your child get a good college education – without risking all the money you might want for other essential things in life. Things like retirement, or health emergencies, or even, someday, grandchildren.
It can be done. Just read through the topics in this section of College Money Matters, and you’re on your way to planning a bright future for you – and for the college-bound student in your family.
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Putting a price on your child’s education
More expensive schools: are they better?
Helpful sites for parents and guardians