Did your children receive a personal finance education while in high school? If not, that means the only skills they have to manage their own money are the ones you’ve taught them. According to the T. Rowe Price’s 2014 Parents, Kids and Money survey nearly 75% of parents say they’re discussing money with their children on a regular basis, but only about 60% of kids say the same.  With that in mind, Fortune.com has provided a quick checklist of items to discuss before dropping your children off at the dorm.
Their list includes setting spending limits, learning to manage a Student ID card/debit card, choosing the right financial institution, and how to use a credit card successfully. You can read Fortune’s Blog Post, “How to talk money before they go off to college’ at Fortune.com.
While making sure your children understand that having a personal finance education during their college experience is important, it’s also important to make sure they understand Student Loans and how to pay for college successfully. Many students are relying on student loans to help them through their college career, but are they relying on the right loan? Members CU now offers The Members CU Smart Option Student Loan® by Sallie Mae®, which provides students with three great repayment options and competitive interest rates! The loan is an ideal solution to help you pay for college expenses not covered by scholarships and federal loans.
To find out more about The Smart Option Student Loan visit:  http://www.memcu.com/salliemae
Statistics and information provided by FORTUNE Magazine. To read Fortune’s Article click here.
Chatsky, J. (2014, August 25). How to talk money before they go off to college [Web Blog Post]. Retrieved from: http://fortune.com/2014/08/25/how-to-talk-money-before-they-go-off-to-college/