Preparing Your Child For College And The Finances Involved
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Preparing Your Child For College
One in five college graduates say that they wish they studied harder in college, making it the highest ranking regret. Preparing your child for college can help get them into a good mindset so that they are truly ready for college, regardless of whether they’re studying art and design or science. It’s important that they make the most of the opportunities offered for the most success, and they also need to understand the financial side of college, such as how student loans work.
Teaching Them About Finances
The reality is that going to college can cost a lot of money. 70% of college graduates will leave with a significant amount of debt in the form of student loans, with the average being $37,172, so it’s important to teach your child how to manage their money so that weighed down by debt in the future. Student loans are a part of going to college, but teaching our children how to manage their student commitments can help to pay debts off quickly and focus on buying a home or a car, instead of spending years paying high interest rates. Learning about money can be done from an early age, and be sure to teach your child more than the basics so that they understand how loans work and what options are available.
Taking College Courses In High School
Your child can enroll in college courses during high school so that they can ease into the idea of college, but also reduce their workload once they start. This will help your child to have more time to get other school work done, hold down a job, take advantage of opportunities that the college offers, and have a bit of time spare for socializing. This can also help to save some money as your local community college may have lower fees than the college they’ll attend. Just make sure that the colleges your child is interested in accepts the coursework done beforehand and how they use the work for grades.
Helping Them With School Work, But Not Too Much
One of the biggest things your child will notice when they start college is that the amount of help teachers offer will be dramatically less than they’re used to. They need to be able to work independently as much as possible. Get them used to this by encouraging them to do as much of their homework or any crafts they’re working on by themselves. Only help them if they’re struggling, but suggest they do what they can and you’ll check it over for them when they’re finished so that they get used to working independently.
Your child going to college is a big deal for both your child and yourself as a parent, so don’t forget to give yourself some time to adjust too. Preparing for college will help your child to get the most out of it and hopefully enjoy great success.
