Your child may still be in high school, but that doesn’t mean you can’t help them prepare for the next level of their education.
College is far more difficult than high school and can seriously overwhelm new students. You know very well how demanding college is, but this gives you and your child an advantage.
Your knowledge and experience can be used to prepare your child for their college career and ensure they succeed.
In this article, we’ll be covering how parents can prepare their child for college before they graduate high school.
Help Them Hone the Necessary Life Skills
College may give your child an in-depth education about a specific career field, but it doesn’t touch upon the necessary life skills.
Below is a list of life skills everyone needs to learn and master:
- Self-control
- Practicing empathy
- Critical thinking and planning
- Taking calculated risks
- Negotiation
- Being a good leader
- Effective time management
These skills are what can ultimately help your child succeed in not just their college career but their entire life. The first three skills should be prioritized.
When someone is overwhelmed, it’s easy to let their emotions do all the talking. Teaching your child to control their emotions can help them deal with intense situations.
Practicing empathy can help them build long-lasting relationships with others.
Lastly, your child will eventually be placed in situations where they must strategize. Rushing in blindly is just asking for trouble.
Figure Out the Best Way to Pay For It
As you’re aware, college is a big expense. You might still be paying off your student loans as we speak.
Regardless, why let your child go through the same financial burden and struggle to pay back thousands?
You might be tempted to cosign on their student loans. But you don’t need to put both your credit at risk either.
So, how do you go about funding this?
You can take out a HELOC, or home equity line of credit. This type of loan is where you borrow what you have built up through your mortgage payments.
More specifically, you’ll be able to use some of the amounts you’ve currently paid off. If you’ve paid off the entire house already, then you can get as much as 80% of the home’s value.
This solely depends on your current situation. A HELOC can be used for pretty much anything, like a personal loan.
Have a Serious Talk with Them
When your child inevitably goes off on their own, you want to make sure they have a level head as well as good survival instincts.
Let’s face it – the world isn’t exactly a pretty place and can be quite devastating at times.
From dating gone wrong to actual crime, it’s your job as a parent to engage with your child and talk to them about this stuff. It certainly won’t be the best conversation you two will have.
However, it’s vital if it means that they remain safe. Another thing to encourage them is opening up about their feelings.
College can test the patience of people, especially new students.
