Wednesday, January 13, 2010

How much should a parent pay for college? What percentage should the child pay?

One minute a little bouncing baby in my arms, now, a seventeen-year-old young woman ready for college.

How much of college should I pay for? What percentage? Should we split it 50-50? I have no idea, and am wondering what other people have done, or if anyone has any suggestions.How much should a parent pay for college? What percentage should the child pay?
That depends on the family and the members of the family.How much should a parent pay for college? What percentage should the child pay?
While it's true that she should be learning responsibility and getting a job, that's a huge bill to pay off when you're that young. If you are capable of paying most, if not all, of your child's tuition without going into debt than I would say do it. That way your child can save up money to take care of her car and for the future- personally I would rather be able to save up money for life after college.

Don't forget your daughter might qualify for state scholarships. This could pay almost all of tuition depending on how high a school's tuition is.
That's your decision, do you want him to have everything handed on a silver-platter or do you want him to know the meaning of working for something? A mix of both?

My parents are paying 0% percent of my college, and believe me they can afford to pay more. He might be happier if you helped out.
It is your decision. Do not spend more than you can afford, which may mean a few years at community college and living at home. If she wants more, she should pay it.

More than anything, you need to set the expectation on what you will and will not pay now. You should have set it long ago.

BTW, my mother neither paid a dime for college nor would she sign the FASFA forms. Don't be that extreme. At least sign the financial aide forms so she doesn't have to struggle.
Depends. Have you been saving up for the child's college? If so, I would say all of what you been saving up. If not, the child should learn responsibility and get a job and pay all on his or her own or at least get scholarships, loans, grants, etc.. to pay for the college.
If you can afford it, you should pay for all of it. If you cannot, you should pay for all you can and tell her to pick up the rest.

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