KEY QUESTIONS PARENTS SHOULD ASK THEIR KIDS BEFORE THEY GO TO COLLEGE
Making the wrong decision about what to study or where to go to school can have costly and time-consuming consequences. Switching majors or schools or even going back to school after you start working can all jack up the cost of obtaining a higher education and subsequent student loan debt.
More than 50% of college students will change their field of study, 33% of students will transfer to a different college before graduating, and, about seven in 10 students today graduate with debt.
Parents often fail to ask their children the right questions. Joe Schmoke, founder of University Research and Review , a free college selection service, offers these key mistakes parents should avoid:
– Not questioning their kid’s decision – When your child is applying for schools, it’s natural to want to let them make their own decision, as they are about the head out into the world on their own. But it’s still your job to help guide them in the right direction.
– Ignoring the numbers – A college education is one of the most expensive purchases many people will ever make, but too often people don’t pay attention to the price. Consider whether the schools you’re looking at fit your budget and what options are available to pay for them so your child is not drowning in debt when they graduate.
– Basing their decision on the wrong reasons – Ask your child why they want to focus on that specific major or school. If it’s just because a friend is doing the same, or you want them to go there because you or a relative did, that may not make the most financial or practical sense. An objective test, like URR’s , can help guide them in the right direction if they’re not sure.
– Assuming college is right for everyone – Just because you want your child to go to college doesn’t mean it’s always the best decision for them. Everyone’s circumstances are different – some people may benefit from working for a year or two before going to school, or they may decide college is not for them.