Should Parents Foot the Bill for College?

Many parents start saving for their children's college expenses even before they are born. But should parents foot the entire bill for college? It is my personal belief that they shouldn't. Parents need to take some of that money and put it away for their own retirement. Yes, I think parents who can afford to do so should save enough for their kids to give them a head start in paying for their higher education. They should also make it possible for their sons and daughters to put any money they earn during their high school and college years toward paying for their college expenses.

However, I believe college students should assume a significant amount of the responsibility for financing their own college education. By requiring students to put some of their own "sweat equity" into financing their college education, instead of completely relying on money that mommy and daddy have saved for them, those who are aren't serious about college can be winnowed out early in the process. All too often, young people who go to college completely on their parents' dime use it more as an opportunity for partying rather than learning, and ultimately flunk out or never graduate.

In addition, having to finance a good portion of their own education will force students to more seriously consider whether they are four-year college material before wasting their (and their parents') time and money. For those who ultimately determine that they are not, a two-year technical college, community college, or trade school might be a viable option. Those who determine that they are going to attend a four-year college or university might still see the economical benefit of first attending a junior college for two years.

And, for those who wouldn't consider military service, there's nothing wrong with working fulltime a year or two before attending college. Where did the silly notion come from that one has to attend college immediately following high school? Many students are not mature enough for college at that stage in their life anyway, and could use another year or two to get ready.