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Letters From Listeners
Who Pays for College?
Who Pays for College?
10/12/2012

By dumb luck, I was able to pay for my own college. I was only 17 when I started college, and since I didn't like school, my first thought was to go during the summers, too, to get it over with. Then I thought, I don't want to be 20 years old and working full time. So I decided to go "co-op", a program that includes a year of hands on work intermixed throughout the 4 academic years and it would take 5 calendar years to finish school. Well, working and saving during those co-op sessions allowed me to pay 100% of my way through school. And with 5 other siblings for my parents to get through school, I was happy to do it.

My 3 daughters were told as freshman in high school, I would pay 1/4 of the cost of college, their mother would pay a 1/4, and they had to cover the other half. Also, I told them they did not need to get a job during high school. I would give them a reasonable amount of spending money for their socializing. Their JOB during high school, was to get good grades so they could get good scholarship money. So they got good scholarships (which count toward their half) and they are also working co-op and taking 5 calendar years to get through school.

It is working out very well, except that they are all in school this 2012 - 2013 academic year and paying parts my portion for all 3 at one time is a cramping my style a little!!

David

Tags: College, Education, Finances, Higher education, Parenting
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