Saturday, January 23, 2010

How much should a parent spend on college?

For example, my parents saved up a total of $1000 dollars for my college.





They have 3 other kids though. Is that a small contribution or a good one?





What do you think?How much should a parent spend on college?
If that is what they can give you, that it wonderful. However, $1000 will not cover an entire college education. In most cases, it will not cover one semester. My mother spent $15,000 on my college education, and I spent about $7,000.How much should a parent spend on college?
Parents ';should'; contribute as much or as little as they feel comfortable with. Some parents have limited income, some parents feel that their kids should pay for their own educations, etc. As others have said, it's nice that your parents can contribute something to your education, but $1000 won't even cover your books for four years.





You will need to do some research on scholarships and loans and work with your counselor to find a college that you can afford that has the program you want to pursue. You may need to work full-time and go to school part-time, and/or start at community college and transfer to a four-year school, or attend a technical program of some type.





It may take you longer than a ';typical'; student, but if you work hard, you'll be so proud of yourself for accomplishing your goals. Good luck!!
I don't think that parents should contribute, unless they are doing very well financially.





I have relied on scholarships, financial aid, and student loans for my education. My younger sister was fortunate enough to qualify for a full-ride to her school. My parents haven't contributed, and now that I'm older (and a mother), I understand the reasoning why.





It doesn't make sense for parents to go into debt, when they are much closer to retirement age then their children. Unless, of course, they have the money to spend, and they have a strong savings and retirement.
Many people do not receive any support from their parents so you should be glad that you are getting some help. College will cost a lot more than that so you might need to look at scholarships or loans. Depending on where you go just one class may cost from $500 to $5000.
I don't think it should be a parent's OBLIGATION to pay for college, but it is a nice thing to do if you have the means.
my parents spent 30,000 on me but I have to pay the rest.

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