ST. CROIX INSIGHTS

Paying for college – Why do we think others should pay for it?

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

It’s a real worry parents have today and not surprising because college can cost upwards of $100,000 or more. Paying for college has become very worrisome and we’ve created a system that encourages you to want others to help pay for some or all of your child’s education.

It’s a natural question to ask where a high school graduate is going to college? And if the response is anything but a four-year degree, it seems like we look down on them. Not every kid is college bound or right for a four-year program. And that is Ok.

There are so many high paying jobs were a technical school provides the skills necessary. From an auto mechanic, HVAC, LPN, RN, plumber, lineman, etc. I know because I hire many of these people because I have no idea how to perform these tasks myself.

College tuition has gotten out of control and I suspect will never change in our society. Here are a few ways to help you plan for paying for college.

1. Start setting money aside the day children are born
2. Start at two year program if needed and then transfer to a four year program.
3. Look at options at technical colleges.
4. Don’t go to college. My most financially successful clients do not have formal educations and instead pursued their passions and worked hard.
5. Find an employer who offers tuition reimbursement or on the job training.

Kids have more options than ever before. If your child’s education is a top priority, you might need to redirect your financial priorities to saving for their education.

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