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I refused to pay for my kids' college tuition, now they're saying they ...
Paying For Your Kids' College Shouldn't Bankrupt You, Here's How To Teach Them Fiscal Responsibility While Still Being HelpfulYou've decided you don't want to pay for your kids' college education. Or maybe you cannot afford to do so, like many families nationwide and worldwide. Revealing this to your children can be devastating to them, particularly if they were expecting that financial support. But you're not a bottomless pit of money, so if you don't want to or cannot afford to pay for your kids' college fund, they must understand why and what to do next. Having The Conversation With Your KidsDifficult conversations about money with your children can be challenging, but it's important not to beat around the bush. By the time they're teenagers, they should have a firm grasp of money and its workings, including knowing how to earn, save, and spend it responsibly. So, broaching the topic of college shouldn't be a huge issue.JackF, Getty Images Be Open About Your Finances With Your KidsIf you're going to be saving some money for a college fund, discuss that with your kids earlier in their teenage years. Even if you ultimately decide not to use it for that purpose, you should be open and transparent about your opening an education fund for them.FatCamera, Getty Images "I'm Not Going To Be Paying For Your College Tuition Because X"You must be direct and to the point. You won't be paying for their college tuition, and that's that. Help them understand why you're not going to be footing the bill. If it's because you cannot afford it, say so! There's no shame in not being able to afford to send your kid to college. That's what student loans are for.Kindel Media, Pexels "I'm Never Speaking To You Again!" And They Storm Off In A RageOf course, this is the least desirable of all outcomes. You want your kids to be able to accept things and move past them, rather than reacting angrily and holding onto that anger in themselves—it's not good for them emotionally. Give them time to process their feelings, and try explaining yourself again.RDNE Stock project, Pexels Encourage Them To Apply For Student LoansEven if they know you've set up a college education fund for them, encourage your kids to apply for student loans anyway. Not only will this teach them the value of loans and paying off debts, but it will give them some insight into how the process works so that if they choose to apply for higher education, they can do so more easily in the future.Kindel Media, Pexels "...
Parent Student Loans: A Guide to Borrowing for College
College can be a financial burden, but there are ways to manage the cost! Explore scholarships, grants, and savings plans first to minimize student loans. Before applying for any loans, have a candid discussion with your child about who will be responsible for repayment after graduation. Remember, there are loan-free options too, like scholarships or grants. Planning and exploring all your options can make college financially achievable. As the college years draw nearer, many parents and guardians ask themselves, "How do parents pay for college?" College is a considerable investment in your child's future, and many parents strive to help somehow. Realistically, it's difficult or even feasible for some parents to cover college costs. In addition to helping their child pay for college, parents and guardians are paying mortgages or rent, utilities, and retirement savings. As students and parents explore various college tuition funding sources, they may find that there is still a financial gap between the financial aid and scholarships offered and the cost of attending college. This may be a signal that it's time to consider applying for student loans. What Parents Need to Know Before Taking Out Student Loans Firstly, student loans get a bad rap. Still, they're how America pays for college, and other college tuition funding sources. As you can see, families aren't paying for college with only student loans. It may not be the wisest investment if that's your first-choice option for "affording" a particular college. Student loans should be used as a last resort after all other funding options (scholarships, financial aid, college savings plans) have been exhausted. How will the student loans be repaid? After graduation, borrowers have a six—to nine-month grace period during which student loans do not have to be paid back. This period enables borrowers to find employment after college, settle into a routine, establish a budget, and then begin paying down student loan debt. Parent PLUS loans, however, do not have a six-month grace period. This is because the federal government has lent the money to the parents, who have had to prove they are employed and have good credit before borrowing. It is assumed that they can begin repaying the loans immediately. It should be noted that there are exceptions for those going through undue financial circumstances. The application process typically involves submitting a loan application, providing financial information,...
Family Loans for College: Everything Parents Need to Know
Parent loans for college are changing in 2026. Learn how a family loan can fill the funding gap left by new PLUS caps, with tax tips, repayment structures, and step-by-step setup guidance.
How 7 Different Assets Affect Your Financial Aid Eligibility (2026)
Do Parents' Assets Affect Financial Aid? Both parent and student-owned assets can have an impact on financial aid eligibility. However, generally-speaking, parent assets have a more limited impact because parents are expected to contribute a smaller proportion of their wealth to pay for their child's college education.
