Every single teenager with aspirations to do great things have college in their plan. Most of the time, conversations about college don’t happen until the end of the junior year, but when it comes to college, teenagers need to know about the cost involved. Your teenager has to be well versed in what it costs to go to college before they start filling out those applications, so that they can apply for the appropriate schools in your budget.
There is a lot that goes into going to college. Parents and teenagers need to have open conversations about college prep high school online, the costs of the applications, how many schools are on the radar and more. Open conversation will encourage good communication about costs, what you can afford and whether they want to get a job to pay for their own expenses. If your teenager knows the kind of education you can afford for them, you’re going to have a much better time of it when it comes to their college prep. They will be able to apply for colleges that they are aware that you can afford, and you’ll be able to breathe easy knowing that they are happy with what you can manage.
If you have an ambitious and excited teenager talking to you about college, then you need to think about broaching the conversation of college funds as early as possible. If they want Ivy League or international schools, you need to be able to talk them through their current college fund and what assistance can be open to them to make up the funds. IF you cannot afford a high-fee school, don’t over promise them what they can do.
You can broach the subject of savings goals even before high school, as you can get it into their minds as early as possible what their options could be. Encourage your teenager to take a summer job to add to their expenses fund. Talking about costs and savings will show them that you want to work with them to save and prepare for their fees and their general living costs. It’s a commitment to work together on their education!
Savings, spending and debt should be a regular and ongoing conversation. There doesn’t need to eb a face to face meeting and it doesnt need to be formal every single time. This should be a discussion not a dictator and you should think about colleges together. If your teenager has some preferences, work on how you can achieve those preferences.
You can open plenty of different college fund accounts to get your child to college. You can look at potential scholarships, but don’t rely on them if you can help it! Every dollar you save together is less than you have to borrow to pay your way through education. Save in your name not your teenager, as that can be taxed at a high rate.
It can cause stress to save up for college, especially if your teenager has high hopes. However, the more you work together, the better you’ll be at getting there!
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