Should parents pay for their children’s college education? Do parents have to pay for their children’s college education? These are tough questions to ask and to answer, but they are very important when thinking about the increasing cost of higher education.
These kinds of questions are also really relevant to my blog, as I began it extremely focused on paying off my $40,000 student loan debt (you can read about how I paid off my student loans in just 7 months).
My student loan debt was higher than the average $30,000 per student, and surprisingly, it is often the parents who are taking out loans to cover their kid’s education. I’ve read countless stories of parents who have $200,000 in student loan debt for their children, parents who are struggling financially, etc. These are parents who are drowning in debt for their children. [Read more…]