This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
And here’s why
I’ve seen it go both ways. Some kids get the free handout from their parents and graciously take upon the free burden of completing their college education with pure gratitude, and they excel in life – beyond measure. Then you have other kids who are gifted the free burden of paid-for-in-full college education, but they don’t finish, or they squander the opportunity.
The critical lesson many kids miss out on with the paid-for education-by-parents is financial responsibility and independence.
When you pay for your school with your own wits and skills – whether that comes from scholarships, grants, loans, or your own money, you get an introduction to personal finance, budgeting, and responsibility:
You learn how to take care of yourself.
You learn how to manage your limited resources.
You learn the value of not taking too long to complete your courses, so you’re not wasting money.
You learn the value of attending classes because they’re being paid for with cash from your pockets, which makes you think twice before skipping every class.
The ones that receive help from their parents
It’s a nice gesture to pay for your kids’ education, but wouldn’t it be a better lesson for them to fund their own education? Maybe they will take their classes more seriously or think twice before going to a private school that lands them at the same company as a public university student.
Some of my college roommates had plenty of financial assistance from their parents. Where are they today? One still isn’t saving for retirement and doesn’t even know how to, in addition to living on a very limited income. Another continues racking up thousands of dollars in debt that I’m not sure is currently being paid.
This doesn’t happen for everyone, but for some it does. And for this group of people, it seems that the more help they receive from mommy and daddy, the less resourceful they become in forging their own paths. It’s as if they forget how to feed themselves in a sense.
I’m glad my parents didn’t fund my education
I’ll admit, back in the day, I was a little bit bitter watching kids get their cars and education paid for by their parents who seemed financially better off than mine, but over time, I only became more grateful that my parents didn’t fund my college education. I utilized this extra injection of financial responsibility and do-it-yourself-mentality to propel me forward onto the path of financial independence.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.