INVOLVE YOUR CHILDREN IN COLLEGE PLANNING
Most children don’t become involved in the total college process other than looking at colleges where their friends are going or the college’s social life. But being part of the overall process can be very educational for children, as it presents them with valuable information about the cost of college, financial aid, job placement services, etc.
Many financial experts believe the best time to introduce children to college planning is when they are in middle school. During this time, parents should initiate discussions about college to instill the idea that the family supports and encourages a college education. As children prepare to enter high school, it’s important they learn the value of solid study habits, good grades and participation in extracurricular activities as requirements for college acceptance.
Some high school students know the career they will pursue and that will influence their choice. Others, have no clear idea. Either way, they should be involved in college planning at a deeper level including the following:
You may think of more ideas that could add value to your family’s efforts to plan and save for a college education. Getting your budding scholar involved early in the process – financially and otherwise – could ultimately be a pivotal lesson in responsibility that impacts his or her success later in life.
Having a College Financial Plan can ease the burden of college planning. If you’d like me to review – or create – your plan, please give me a call. Your first appointment is complimentary.
Edward A. Metz, CFP®, CPA/PFS
LPL Registered Principal
Securities offered through LPL Financial. Member FINRA/SIPC