A Free Ride – Should I Pay for My Child’s Education?
| By Paul Bremer | Category: Career and Personal Finance
Photo by Richard Lawrence Cohen
In an economy driven by the almighty buck, you can only hope to get what you’re willing to pay for. We live in a “show me the money” world where luxuries and necessities alike are attainable only when we have the cold hard cash to fork over. As a society, we have no choice but to accept the dire situation we’ve been placed in despite lamenting the fact that something such as the human right to quality healthcare is now a privilege that over 46 million Americans are unable to afford.
The harsh reality is that nowadays, nothing comes without a price, and if you want something bad enough it has to be earned no matter how entitled we may feel.
A college education can be likened to healthcare in the sense that many firmly believe it should be free. Unfortunately, it costs to provide such services, and for now we must learn to deal with it. However, thousands of college students are in fact receiving their education at no charge to them, but rather at their parents’ expense.
The National College Board reported the average cost of tuition for 2008-2009 was approximately $6,500 annually for a public institution, a 6.4 percent increase from the previous year. With room and board, one can expect to pay roughly an additional $7,000.
As parents begin sending their children away to school on their own dime, they naturally may start to experience financial hardships, especially given the current economic crisis. But is this strain simply the price of having a child and providing the necessary outlets to ensure a fulfilling and successful life for their offspring? Or is it time for students to step up the plate, accept the responsibilities associated with adulthood, and alleviate the pressures on their parents?
Of course each individual family’s financial situation will vary greatly, but allowing a child a free ride to school seems as though it can be potentially detrimental to the maturation process from child to young adult. True enough that a parent is expected to provide for their child. But at what point do you allow your child to provide for themselves?
Many who attend college via a free ride from their parents either expect the financial support as a given rite of passage or believe they can’t balance a job and their studies successfully. Part of the problem in regards to the former is how these students view college.
For the most part, this is the first time in their lives when education is a choice. If they decide to attend college, it is clearly something they want for themselves. And no matter what the reason may be, everyone should be expected to work for what they want. With all things in life, the true value of any possession is not what you paid for it, but having the satisfaction of knowing you earned it. Writing your child a blank check for school not only prevents them from valuing their education as something that is inherently theirs but also encourages a sense of entitlement by offering a full blown hand-out that they’ll grow to expect for everything they want in life.
That’s not to say students shouldn’t accept help from their parents or other sources. It’s a matter of taking a proactive role in your status as student and adult, and not sitting back while enjoying the free ride. Simply put: get a job. Saying there is no time to work and efficiently manage your studies is an excuse. On campus employment can be a great way to earn money while demanding relatively little of your time. Part-time work is also always available. Between the $143 million of financial aid available to students as well as their own earnings, they should be able to contribute, even minimally to their own living and educational expenses. If students can find the time to drink and attend parties, there is surely time to work and make money to support such habits.
The ultimate question I suppose is can it all be done without parents’ help? The answer is an undeniable yes. Is it difficult? Absolutely. If you are willing to work hard for it, the goal is in reach. There may be terms when a student is forced to drop to part-time status in order to work more to afford it. Even if it takes longer than the standard four years, students should pride themselves in being able to earn their education by exhausting all options.
There’s no shame in accepting help. However, it should never be the crutch to lean on because it may not always be there. As adults, it is one’s own responsibility to take care of him/herself. The fruits of hard labor will be that much sweeter.
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Speaking as a former college professor, I could always tell which students had their education paid for by their parents. They were always the first to blame their failing on the professor and say that their mom or dad paid my salary. My un-scientific study of this phenomenon led me to believe that parents should NEVER pay for their child’s education as it leads to laziness and inane threats against professor’s jobs (which only leads to lower grades in the end). I didn’t have to pay for my undergrad due to scholarships, but I had to maintain certain grades to keep those scholarships so in effect I was working for my tuition. I did take out loans for my graduate degree in addition to scholarships and I think that made me work harder and faster to get through my graduate program in 1.5 years instead of 2 to save money.
On campus employment can be a great way to earn money while demanding relatively little of your time. Part-time work is also always available. Between the $143 million of financial aid available to students as well as their own earnings, they should be able to contribute, even minimally to their own living and educational expenses. If students can find the time to drink and attend parties, there is surely time to work and make money to support such habits.
In my view once a student finishes his/her schooling the parents should not go on paying all the money for their child’s education. Once he/she has passed out of the school, they become adults. And at that age they surely can find many ways to earn an income. It’s always better that the child pay for his studies because in that case he/she will become some responsible and sincere to their work. He will also learn to manage his time in a better way.
I think each situation is different. I agree with the professor above that if the student doesn’t “appreciate” what has been given to them, they will not understand the gift of a “paid for” education. I also believe that those kids who earn money with high school jobs and are required to pay for some of their expenses with this income understands better the value of money in the long run. Child education is key to this.