Today's Kids Going to College
June 19, 2012
Today's Kids Going to College

Dr. Laura,

I think the financial burden and the fact that today's youth feel like they are entitled, not only entitled to go to college, BUT TO GO AWAY TO COLLEGE.

They don't care or realize the 54% of the cost of college is for room and board.

We live in Florida.  Luckily our state has a pre-paid education plan. When each of our 3 kids entered 1st grade we bought a pre-paid plan, an investment of about $6000 each. Florida also has a Bright Futures Scholarship program funded by the state lottery; each of our kids had good enough grades to qualify for 75% of their tuition to be paid through this program.

We live in South Florida and have a number of pubic universities close by. I made a deal with each of our kids when they were in high school, we would pay for their tuition, books, labs etc. at a local school.  If they wanted to go away to college they were responsible for room and board. I was not going to wind up $90,000 in debt so each of them could go away and party for 4 years.

Our oldest son earned his bachelors degree in 3 1/2 years and was able to save enough money while working to put a 10% down payment on a house the same week he graduated; he was 21 years old when he bought his first house.

It looks like in about 2 years my wife and I will have a business and marketing major, a nurse, and a geologist - all graduated without anyone owing money simply because we planned ahead and they lived at home while attending college.

Also, our son had the confidence in our relationship to buy a house on our street, three blocks away, and know he did not have to worry about Mommy and Daddy interfering in his life and independence.


Posted by Staff at 2:56 PM