Blueroselady's Weblog

I wish you abundant happiness, health & wealth

Bluerosesolady will not pay for her children's college costs

leave a comment »

Tamar Lewin of The New York Times wrote that "the more college money parents provided – whether in a absolute terms or as a share of total costs — the lower the children’s college grades."

Lesson 1:
"Everybody has always assumed that the more you give, the better your child does."
Blueroselady thinks that everything popular is not always right.

Lesson 2:
Do not give a blank cheque to your children.
Professor Laura Hamilton (UC Merced) suggested that "students who get a blank cheque from their parents may not take their education as seriously as others."
Blueroselady: Children are the ones who should write a blank cheque for their parents.

Lesson 3:
Both capital / cash and connections matter. Education alone is insufficient, especially if one’s grades are mediocre.
"Affluent families are not hurt most by the lower grades, because they had the connections to get their child a job."
Blueroselady personally hearts those middle-class parents who had worked hard, scrimped and saved, borrowed from family members, taken out loans, used up their retirement funds.

Lesson 4:
Parents, never use your retirement funds for your children’s college costs.
If they really desire to learn and go to college, they have to fight their own battles.

Lesson 5:
Setting goals is highly important.
Professor Laura Hamilton shared that she planned to pay for her children only after they talk about how much it costs and what grades she expect her children to achieve.
Blueroselady: It is important to set goals from early age, perhaps babyhood.

For more info:
More is More or More is Less?
Professor Laura Hamilton, UC Merced.

Advertisements

Written by blueroselady

January 17, 2013 at 1:38 am

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: