A college education is among the most expensive purchases a family will make. In some cases, it could be comparable to the cost of a house. Parents want their sons and daughters to make the most of this investment, and that includes ensuring that your student views education as a personal responsibility and is mindful of the impact of his or her financial decisions on the family’s investment.
Students receive an array of messages related to college finance–about credit and debit cards, spending, budgeting, and debt. These messages come from family, from the media, from popular culture, from their college, and from their friends. Research shows, though, that parents’ financial messages and behaviors have the most impact on a student’s financial responsibility. Our hope is that by providing accurate and timely information to families, students will receive messages from home that will help them make thoughtful and responsible decisions when it comes to managing their finances.
We know that it can be difficult for family members to talk with their students about sensitive subjects, and money can be an especially difficult topic. This website includes talking points for discussions about finances, including information from students and parents about how they have successfully navigated money management during the college years.
Finance–A Family Affair
Planning for College Expenses
Cash, Credit or Debit?
How to Support Your Student