There’s no secret out there that having a child is pretty darn expensive. But out of all the different expensive things you have to pay for, one of the most pricey is college. This is even more true if your kid has their sights set on some of the more expensive colleges in America, such as NYU, Princeton, or Yale, to name a few. And what kind of parent would you be if you were to discourage them from wanting to attend these respected establishments? Here are some things you can do to weather this financial storm.
Financial Aid
If you know that your child is set on going to certain colleges that are expensive, then you should try to get financial aid. Explain to your child that you don’t have the financial means of paying for tuition, but if they work hard to get good grades then it will be easier to get financial aid as a result.
Honesty
True, you don’t want to crush your child’s dreams. But if you truly are strapped for cash, you need to be honest with your child and tell them that the college they want to go to is simply far too expensive. Explain to them that you want them to attend college, but that they need to set their sights on a school that’s a bit more realistic from a financial standpoint.