Sending your child to college can be a stressful thing, and now that they are legally adults it can cause other difficulties that you may not have thought about previously. These tips and tricks will allow you to help your young adult grow and mature as they enter the real world. You will also learn steps that can help you assist them both medically and financially should something come up while your child is at school.
Key Takeaways:
- Newly adult college-bound kids may not realize that should they fall ill, their parents will not necessarily be kept apprised without a power of attorney to safeguard their ability to intercede.
- Because credit card offers are endemic with newly adult college-bound kids, it’s important to apprise them of things, like interest rates and fees, even help them pick their first one, if possible.
- CEO, Lee Gordon, of the Wealth Advisors Group, of Mesirow Financial, is well-versed in the sorts of things parents should consider as their newly-turned adult children leave the nest.
“After enrolling in college, each student is given access to a site that lets them view tuition payments, loan disbursements and scholarship awards. This is convenient, but let’s be honest, a lot of college students aren’t the best when it comes to managing money.”
Read more: https://finance.yahoo.com/news/3-essential-tips-parents-college-bound-kids-163029241.html
