As a parent, you know that time with your kids can go by in the blink of an eye. So, whether you are preparing to send your child to kindergarten or are dealing with teenagers, it’s never too early (or too late) to start planning for their higher education. Not sure where to start? We’ve gathered some of the most common financial mistakes parents make when it comes to college planning.
Parents and grandparents of high school students have a wistful feeling about the child they’ve watched grow up, as well as a concern for what lies in their future. It’s only natural to want to help that future scholar navigate the financial hurdles to a great education. That said, you have a few hurdles of your own. It would be good to know how to financially help the child in your life while avoiding any extra tax burdens.
Outside of mortgages, student loan debt is the largest form of consumer debt - sitting at $1.4 trillion from borrowers across the United States. The average per borrower is $37,172, as of 2017.1 While the severity of the student loan debt crisis is undeniable, the real issue is - how did we get here in the first place?
