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Parents Are Giving Less Money for College

Last post Wed, Aug 7 2013 1:55 PM by Loveday. 17 replies.
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  • Mon, Jul 29 2013 8:45 AM

    Parents Are Giving Less Money for College

     In an economy where spending is being cut and incomes aren't stretching as far, we are seeing a change in our approach to college.

    The Wall Street Journal reports that parents are spending less on their children's college. This is driving up the amount of people seeking assistance from grants and loans.

    Other changes noticed are more students electing to live at home to save on dorm expenses and expense of the college is a more important factor when choosing where to study.

    Read more about college and funding

    In this new world of higher education, are you struggling to afford your college expenses or your children's? Does this all change the choices you or your children are making?

     

    $ Dollar Stretcher Community Manager $
  • Mon, Jul 29 2013 10:59 AM In reply to

    Re: Parents Are Giving Less Money for College

    Also, specific training is more beneficial than a college degree in some fields. Plus look at people like Bill Gates who dropped out of college to pursue his dream (even tho he is a strong advocate for education). I think it is smart to understand that a prestigious college is no longer the only option. Private colleges are almost pricing themselves out of the 'middle income' market. Just an aside: I feel that I learned as much outside the college classroom as inside...how to live with people different than me, how to manage my $$, be independent etc..
  • Mon, Jul 29 2013 11:05 AM In reply to

    Re: Parents Are Giving Less Money for College

    And....think that parents should never put their own future in jeopardy to pay for their kids college education (such as retirement, bills to be paid etc.). There are always ways for a child to get that education (internet, night classes etc.). Tho it may take longer, it is still valuable to the child who truly wants it.
  • Mon, Jul 29 2013 11:12 AM In reply to

    Re: Parents Are Giving Less Money for College

    yep won't see me paying $20,000 or more for my kid to go to college or university.  they can live at home.  of course we don't have the culture of going away from college and we have lots of  colleges and universities here to go to.  We will help them and are putting money away in a resp.   also not paying for useless degrees . I know lots of people with degrees and debt they never used.

  • Mon, Jul 29 2013 4:05 PM In reply to

    Re: Parents Are Giving Less Money for College

    While it's true that not everyone needs a college degree, DH and I strongly encouraged our kids to get one. We've helped both of our kids, as much as we can, to get their bachelor's degrees. We haven't gone into debt to do it, although DD will have some loans to pay off because she went to a private, out of state college. Her loans are nothing like the horror stories you read in the headlines, though, she worked her way through school (some semesters she had three jobs!) and kept her loans--and the need to ask us for help--to a minimum. DS is going part-time, paying as he goes with a little help from us, and will be finished at Christmas this year, with no debt at all. He attended our local community college and now is at one of our local universities, and lives at home.

    Now, if they want to go any further with their educations, they know they'll have to pay for it themselves with no more help from us, as we need to focus on our slightly battered retirement funds now. Stick out tongue

    "The business of life is the acquisition of memories." --Mr. Carson
  • Tue, Jul 30 2013 4:11 AM In reply to

    • vivid
    • Top 100 Contributor
      Female
    • Joined on Sat, Mar 2 2013
    • Posts 594

    Re: Parents Are Giving Less Money for College

     When i was in college, i have two jobs!

  • Tue, Jul 30 2013 7:39 AM In reply to

    Re: Parents Are Giving Less Money for College

    i am the third years student. the finacial for me for me know is very difficult because my parents decrease the amount of money sending me per month. so i have to find a part time job to pay for the daily life. the part time job brings for a chance to have a experience in work, it helps me confident in my job in the future and the commuication skill. i think that student should find a part time job to help parents in financial.
  • Thu, Aug 1 2013 9:38 PM In reply to

    Re: Parents Are Giving Less Money for College

     And then there is this:

    http://www.huffingtonpost.com/2013/08/01/millennials-live-with-parents_n_3690870.html

  • Fri, Aug 2 2013 12:55 AM In reply to

    Re: Parents Are Giving Less Money for College

    Our oldest will be attending college in 2 years...We have friends whose children attend/attended college and their kids lived at home to save money on room and board. Their kids work as well and applied for scholarships. Our plan is to have our kids attend any college and hopefully, live at home. If that's not possible and they have to live on campus, then we have to accept the fact that they will have debt and have to learn to pay it off. We will help as much as possible to decrease their debt. To get them a head start, I have found scholarships that they can apply for NOW and they will apply every month from here on out. A LOT of scholarships are for middle school and high school, not just freshmen in college. So we're doing our best to see what's out there and go for it. We haven't won anything yet, but we have our fingers crossed!
  • Fri, Aug 2 2013 1:29 PM In reply to

    • map578
    • Top 150 Contributor
    • Joined on Tue, Oct 25 2011
    • Posts 462

    Re: Parents Are Giving Less Money for College

    We paid for 1/2 of their education they took on the other half. We did have some grants and scholarships. If my oldest was willing to live at home she would have less debt today but she loved living on campus and now she has to pay for it. I don't remember what it cost but it was in the thousands to live there.

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