Do you think you will be able to afford to send your child to college?
It now costs upwards of $250,000 to get a 4 year degree from Harvard, but even other schools charge more than $100,000. Will you be able to send your kid to college?
Absolutely, I have 3 currently in college and come h-e- double hockey sticks or high water they will graduate. Although it will not be an expensive degree from Harvard...
No, I doubt I'll be able to afford it (unless I surprisingly win the lottery!) due to the insane costs any more than my parents could afford it for me. But that doesn't mean they can't go if they want to or if it's important to their future goals (and I'd fully support my child if he or she had other plans for life and decided college wasn't a part of it).
If it means a lot to them they can try to earn scholarships or some form of assistance. And there are always loans. I'll offer what I can, but I don't believe the responsibility of a young adult's education lies on the parent's economic position. Many can't afford it or have to consider their retirement or medical bills. Even if they're able to offer something of a college fund, emergencies may wind up draining that account for more important matters before the time comes for college.
We have an RESP for our daughter which will have about $50,000 for university by the time she's graduated high school. I hope that by that point we'll be financially able to afford the rest for her.
My mom has helped me immensely with the costs involved in post-secondary (for going on 8 years and 3 degrees now!) and I would love to be able to do the same for my children.
if your child could obtain the free scholarship, you don't have to pay for the fees, just books and transport fee. My teen is using her school scholarship.
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