Parents Financing Their Child’s College Education

Emancipation in the youths, according to most parents is not measured by the attainment of the age of 18 but rather when the individual attains a status of independence on their own, either by getting a stable job, getting married or graduating from university or college. Furthermore, parents see higher learning as a long-term investment therefore not minding the costs. However, according to Bissonnette, students should be responsible enough not to overburden their parent on the college costs, but rather work and pay off the college fees and maintenance all by themselves (Wilkinson, 2010, p. 14). This school of thought differs from the perception of many parents in full control of the students’ financial obligations. On the bright side, this perception can help build a responsible and hardworking generation of citizens that will positively impact on the economy. However, some parents might feel that it consumes a lot of the valuable time which could be directed to studying and to avert that, they opt to remove the financial burden of the student.

The Bissonnette idea of enrolling in a community college in efforts of reducing costs is undeniably effective and could be used especially in instances where the parent is incapable of bearing the huge cost of college education. This may arise feelings of disregard to it because they think that it might compromise the education quality and also waste time for the student. The parents justify their stand to financially support their kids with the perception that ignorance is much more expensive than knowledge and therefore the education given is more important that the costs incurred to obtain it.

Although, the elite colleges are highly praised and ranked it is misleading that they are the best as compared to the cheaper colleges. Bissonnette debunks this fallacy and advocates for affordable state schools. Parents feel that the costs incurred in college is too much, but tend to lack a choice but to support their children in the education. Savings can act as a good source of finance for the student if well managed and can pay the fees effectively. In instances of the parent bearing some costs and the other being a student loan which burdens the student, future settling and development might prove to be tough. This is because the student loan will hamper on the future’s financial well being, in that, the debt will slow down buying of homes or starting families. Parents incurring the costs of education, might feel pleased with the student loans because it offsets some of the costs and would not not really be worried about how it will be settled in the future.

The book further justifies that the students who undergo colleges that are not elite and even provide for their funds in education have an equal opportunity in the job market. This thought may change the feeling of financial supportive parent because when they logically evaluates the situations, the much better option appears to be that of students taking the initiative to fund themselves in college education. The book provokes rationality in the supportive parent and makes them see the potential there is for the student to explore and be responsible and hard working, in preparation for what the future holds. Parents bearing the costs of education on their children might be very frustrated when the student fails in class, even though it does not determine the success of the individual in the future.

References:

Wilkinson, J. (2010). Debt-Free U: How I Paid for an Outstanding College Education without     Loans, Scholarships, or Mooching off My Parents. Booklist, 107(1), 16.