Some parents try to save a little time, energy, and money by putting their kids in charge of planning their own college financing.
“She’s nearly an adult—let her figure it out herself and live with the consequences,” some parents think.
But—is it actually a good idea to put kids in charge of college financing?
The answer? An emphatic no.
Parents, please—don’t put kids in charge of college financing.
No matter how busy you are, and no matter how bright and capable your son or daughter seems to be—please take charge of the college financing task yourself.
Figuring out college financing is too complex a task for kids.
Parents, though—you can do it!
Especially with the clear, step-by-step help I provide below.
Your teen’s brain is not yet ready for the task of college financing.
Studies show that before the age of 24, the dorsolateral prefrontal cortex of the adolescent brain is not developed sufficiently to be able to succeed at large-scale tasks requiring high-level evaluation of risk and preparation for the future.
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