The cost of a post-secondary education is a hot topic. Tuition fees continue to rise, and student debts are crippling new grads. The big question is, who should pay for school? Should parents do their best to cover their kids’ educations? There are two schools of thought. Firstly, if your child has to pay for higher education then they will work harder and be more fiscally responsible. However they may start their adult life thousands of dollars in debt which will take them a long time to pay off. Secondly, if parents pay for higher education it is a gift. The cost of an undergraduate degree is approximately $80,000 – a huge gift!! As a parent you want to give your child the best start in life you can afford. Enabling them to get an education and start their adult life debt free is the best start you can give them.
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