Tag Archives: financial aid

July 13, 2009, 11:52 am

On not paying for your kids' college

Meagan Francis has this “bad parent” column today in which she confesses that she has no plans whatsoever to pay her five kids’ ways through college. Snippet:

Our plan is to assist each of our children with lots of support (including living at home if necessary), encouragement, and information; and as much financial support as we are able to — and that it makes sense to — give. [...] Paying our kids’ ways through school has become such an integral part of “good” parenting that we feel pressured to do it even if footing the bill means mortgaging our own futures. Yet even Suze Orman warns that it doesn’t make sense to tap into our retirement funds or put our own finances at risk in order to subsidize the education of young, able-bodied people with lots of time ahead of them. By doing so, couldn’t we in effect punish those adult children when they have to, one day, support our broke an…

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