The Conversation Most Parents Are Afraid to Have

This weekend, when the statement with Intent to Register...AND deposits are due for the colleges of choice for high school seniors and transfer students...MANY families should be having the following conversation...but sadly, most are either too fearful, or ignorant...either way, they are in for a world of hurt, both relationally and financially...The conversation really offers very little interaction. 

Parent:  Honey...I know how hard you have worked in high school, and on your college applications, and we are very proud of you.  If you could project 4 years (not 5 or 6)...what college do you want the degree from?

Student: Brand Name University.

Parent:  Great!!!!  If that is truly what you want...we want that too...and since it doesn't matter WHERE you start college...the main thing is WHERE you FINISH.  So in 4 years, you will be graduating from Brand Name University, and most of your friends will either still in in college, or will have dropped out.  We don't want either of those scenarios...so this is our new plan...and keep in mind that our end goal is also your end goal...to have a degree in 4 years. 

The conversation then goes down the path of working and going to a community college to get the low cost general education units...all the while, saving up money, and focusing on the classes needed to transfer INTO Brand Name University.   When students graduate with lots of debt...they not only are forced to make job and life choices they wouldn't normally make, but their options are quite limited.  Relationships are strained, families and charity are put off, volunteerism is non existent...because there is a debt to serve. 

Please don't let this happen to your family.  If you have gone through the numbers, and truly can't afford college for the next 4+ years, (or don't have a realistic PLAN to pay  back loans), then this will be a conversation to avert a crisis...By the way...robbing from your own retirement is not a plan.  :)