12:59 17 November 2014
After totalling tuition fees, textbooks, room and boarding fee, and other miscellaneous costs, education costs can be shattering. Parents and their students should look into ways through which they can divide the costs between them to make the burden of college education lighter to both. While considering their family’s financial situation, they should make plans on how much they are going to count on student loans and scholarships.
The students who assume responsibility of some or all of their college costs are normally appreciative of their education and thus are unlikely to squander resources such as time and finances. While many families regard college life expensive, the costs are even more if the student makes the stay at college longer. It is thus important for all parties and students in particular to stay focused on their education so as to escape further costs in time and resources.
Parents can sit down with the student to set healthy boundaries on what financial obligations are to be catered by either party and under what circumstances. Knowing who will cover certain costs offers a peace of mind to the parents/guardians and the student alike.
Students can make budgets of their day-to-day expenditure so as to get a clear picture of their financial needs and make the right choice of lifestyle. The financial clarity accorded here is not only helpful in college life but also in the entire life of the student.
Visiting an education advisor can help lay down a practical plan that can help the student clear college in four years or less. Students should be encouraged to make the most out of their time in college by engaging with beneficial societies and taking part in internships that will help them put together good resumes and get job opportunities right after graduation.
Taking on part time gigs during term time goes a long way towards supplementing your family income. Care should be taken to make sure it does not interfere with your academic performance.