There’s an overwhelming amount information available to parents and students about the cost of college tuition, financial aid packages, and finding scholarships to help make college more affordable. There’s no getting around the fact that college is expensive and that parents and students need to talk about the cost of college and how they plan to make that work.
But beyond the big picture, once your student is in college, the responsibility of managing the day-to-day expenses in college should shift to your student. This might be a gradual process; it doesn’t need to happen all at once, but college is an excellent time to practice financial skills to prepare for the “real world” after graduation.
Talk to your student
One interesting finding in surveys of student finances may be surprising to many parents: students want to learn more about managing their money – and they want to learn it from their parents.