Financial Responsibility in College Education

The discussion revolves around how to help a college student budget and feel responsible for their education. Kelly seeks advice on how to ensure her son is invested in his college education, both emotionally and financially. The conversation explores different approaches to paying for college, from full parental support to complete student responsibility. The importance of setting clear expectations and goals is emphasized, along with the need for students to align with family values. The discussion concludes with advice on how to communicate these expectations effectively.

What is Kelly's main concern regarding her son's college education?

• His budgeting and financial responsibility

• His social life

• His academic performance

• His choice of major

According to Dave, what is not necessary for a student to be invested in their education?

• Emotional investment

• Parental support

• Good grades

• Financial investment

What did Kelly and her husband expect their son to do with his summer earnings?

• Spend it on leisure activities

• Save all of it

• Contribute to his college expenses

• Donate it to charity

What mistake did Kelly and her husband make regarding their son's finances?

• Not giving him enough money

• Not allowing him to work

• Not encouraging him to save

• Not monitoring his spending closely

What is one extreme approach to funding college education mentioned by Dave?

• Encouraging part-time work

• Paying for everything

• Making children take out loans

• Providing a monthly stipend

How did Dave and his wife handle their children's college expenses?

• They paid for everything

• They made their children take out loans

• They did not contribute at all

• They paid cash and provided a small stipend

What was a condition for Dave's children to receive financial support for college?

• Getting a part-time job

• Maintaining good grades

• Choosing a specific major

• Living at home

What should parents do to ensure their children are financially invested in their education?

• Let them manage their finances independently

• Pay for everything

• Set clear financial goals and expectations

• Give them a large allowance

What is Dave's opinion on writing checks for children who misbehave or have an entitlement mentality?

• It is acceptable

• It is necessary

• It is wrong

• It is unavoidable

What should parents do if they want their children to contribute financially to their education?

• Give them a fixed amount of money

• Set specific financial goals and help them achieve them

• Allow them to spend freely

• Ignore their spending habits