Often times the toughest part about wanting to prolong your child’s educational journey are the costs associated with higher learning. Many families are not financially solvent enough to afford the entire college experience and everything that fits under that umbrella. More than likely, families will have to look into loans to play a role in financing their child’s education. This means that families will have to discuss up front whose responsibility it will be to cover these loan repayments. Some parents will be unable to support their child the same way others will be able to, which might leave their children responsible for these payments. If they’re unable to support their child through these payments, they might be able to become a co-signor on their student loans. This can have some negative implications if he or she fails to make payments on time, as missed or late payments will negatively impact your credit as well as your child’s credit. There’s clearly a lot that goes into the conversations that must be had about financially supporting the college dream. For more information on how to more effectively have these conversations with your children, review the resource highlighted within this post.
The Parent-Student Relationship In College Searches for more information on the college search process, be sure to check out the Encourage App