Should I Pay For My Kid's College Or Make Them Do It?

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[TeenaNikole]

My parents paid for my tuition 100% and bought me my first car as well. I worked PT just to get some experiences and let me tell you, I was able to save close to 100K by 25. Very grateful for my parents giving me a head start in life. I have a son now, and we set up an education fund for him since he was born.

[sheilan]

My parents paid my college expenses assuming I achieved a GPA they deemed was acceptable. One semester I didn’t get the grades and I owed that money!

[jakevillaret]

I can't stand the "must be nice" comments. Super annoying, and this is coming from someone who had nothing handed to me. The mindset is pathetic.

[dominusnox]

Personally I have my kids 529s, UGMAs, and setting them up a Roths next year. I am all about giving them every advantage I can manage, however a financial education is the best gift I can give, and that includes leading by example.

[NickPeitsch]

I was very fortunate to have my 4-year university degree paid for me...


And I can tell you - I am SO thankful to my parents for giving me such an amazing opportunity. In my opinion, if the parent has saved enough to provide better opportunities for their children, then why not pay for it? 100% agree with Dave's approach.

[iceviking]

Had to pay for my own college. It would have been a huge blessing if my parents could have paid for my college. I’m an RN now, married and both my wife and I work. I went to a local small college for my BSN which saved money. I was also able to stay at home since the school was so close by. Anyone who has parents that can pay for their college should jump at the opportunity.

[marindedonpingue]

Financially, my parents couldn't afford to pay for my 7 sisters and 5 brothers college. Some went to college, some didn't go to college but at the end we all made out pretty good. As for me, I chose to join the Marine Corps and obtain all three of my degrees. I am so thankful that I am not in debt paying off college tuition. I am planning to start my machine shop with 0 debt and 0 overhead.

[jaqueitch]

I worked 30 hrs/week during college and got a 3.7GPA in Chemical Engineering. Doing it yourself is an amazing experience and gives you a complete sense of self-worth

[godogs]

If the money is already saved for your kids college and it doesn’t affect your retirement why wouldn’t you pay for their college? Just put some stipulations like Dave says. I’d add that the degree has to have a career field if I’m paying for it.

[jg-xxoh]

I think a part time job with extra spending cash is a life lesson and gives them exp with what jobs they would do and not do.

[joshmcgoo]

I'm in medical school now, but when I was in undergrad my parents said they could cover the state school near us. I didn't want to go there, so I made up the rest between the state and private school. I was an RA, worked, and applied to every scholarship I could. I'm happy that was my situation, because it really weighed on me the gravity of going to an expensive private school. 17 year olds don't fully understand how a quarter million dollar education can sink you financially.


I'm going to be in serious debt after medical school, but I'm happy I don't have more from college!

[AAAOU]

Honestly my parents not being able to pay for my 4 year degree pushed me harder to make it happen. I applied for any academic scholarship their was and was able to get some grants to help me for most of my schooling. The rest I paid out of my own pocked from working 30 plus hours while going to school full time. Graduated debt free and with a good job 👍🏻

[Erica-wzyv]

My parents paid for my community college classes. And then when I transferred to a state university they paid for me BUT I promised that I would pay them back that portion, which came out to about $13K. I always paid for my books/supplies while in school btw as I worked part-time and lived at home. And it works because they will get their money back, while saving me added interest. I’m almost done paying them back too 👍

[SMart]

Forgot the most important part of the precollege discussion; “Exactly what do you plan to do with this expensive tool to earn a living after graduating?” Personally, I don’t go to buy a tool at Home Depot until I know what I’m going to use it for first!

[DrogoBaggins]

Whatever you do be honest with your children ahead of time so that they can plan. My brother got a free ride. He got four years of college a car and rent money and walking around money and full emotional support and my parents were proud of how hard he studied and my father wished that he could have done more for him. I was expecting at least a little moral support but I got zero money and a lot of backstabbing. So no support is fine and paying for school is fine but letting your kid believe that you will help and then yanking the carpet out from under them is a big step on the road to them hating you.

[hunter]

Pay the first year but have qualifications to receive the same amount the following year. If grades drop, you’ll receive less money requiring a part time job. If grades come back, replenish the funds similar to that of the first year.

[KatieJohnsonVlogs]

I’m definitely taking the Dave approach when it comes to paying for my kids school! But I will highly encourage them to be entrepreneurial or go to tech school or something else because traditional university is only one route.

[Psalm_]

Kids are an investment. Pay for them now and they'll look after you when you're old. At least that's what our culture teaches us and I'm Asian, South Asian.

[elinal]

My parents paid for my college, and I'm immensely grateful. I graduated with a good salary straight out of school and I'm also saving a lot of my current salary to go towards paying tuition for my younger sibling who started college when I graduated. I also want to work hard at my job to be financially stable enough to support my parents into their old age. Paying for your kids' tuition doesn't automatically make them ungrateful and lazy. It all comes down to years and years of good parenting and instilling the right values in your children.

[LovenOther]

As a behavioral psychologist, I love this, Dave! ❤️ Consistent, predictable, and contingent outcomes are the key to shaping good habits in your kids.