Scheduled Business Meetings Should Be Routine With Your Student

From the very beginning of the collegeexperience, set the expectation that you will discuss their finances on a regular basis — in a non-threatening way, about what is working financially and what is not. Financial pressure is stressful. Together, discuss solutions to their financial expenses. The student is part of the solution. Do not ignore their finances until they are in trouble.

If your student is not coming home during the semester, these “business meetings” can take place on the phone.

Sometimes as a parent, you need to understand the exact expenses your child is incurring. Have your student write down their expenses so the allowance can be appropriate.

Credit cards are mailed to students on a regular basis with promises. Cut them up. Under no circumstance should your student be accepting credit cards. Encourage debit cards.

If your child is on a scholarship, or a work-study program that requires reapplication, make sure you know the deadlines. Also, if a student loan needs to be updated, note the dates on a calendar and make sure the applications are in on time.