I share Post Secondary information because we are still parents, and the first years out are crucial to the future success of your student. If things go up the creek, you know you will have to dismantle the Jacuzzi and replace the walls to their old bedroom.
Getting the children out of the nest in the best way, is really a way of insuring that they don’t come back. That basement makes a great jungle room.
Show them the money. Not all scholarships are based on academic brilliance. That often puts a lot of students off applying as they think their marks are not good enough.
Sometimes young adults think that money will always be there. Remember when they were toddlers and you would tell them you didn’t have the money for the super expensive gizmo, and they would look at you sweetly and say “Go to the Bank.”
Well, the only thing we want to go to the bank for now is to make the last payment on the mortgage, but with the crazy cost of tuition: lack of summer jobs for students, not to mention the low minimum wage, finding money for college is tough. Empty Nesters find that even if they were in a higher tax bracket the previous year. Things may have changed. Many retail giants, such Target and Future Shop, are closing stores in North America due to online shopping. This means the loss of many P/T jobs for students. Gone are the days when a student could work in the summer and pay for the next year with the wages earned.
Most government education loans request a contribution from parents. As already mentioned, money for education may not be there for a variety of reasons, it may not be enough, and their may be multiple siblings to pay for as well.
Although a family may be living a comfortable lifestyle, not many families can afford to pay up to $30,000 per year for education costs. A family may earn too much to qualify for a loan, but not enough to manage the payments. The RESP has not kept up with inflation. Tuition, residence and the ridiculous cost of barely read text books all add up.
Here are some places to look for Education dollars:
Scholarships for minorities – There are often scholarships available for various ethnic groups via the financial aid office of the college/university. Find that relationship – This is where the ancestors come through for you.
Check with individual departments – Many scholarships are offered for the most interesting reasons, some may reflect the benefactor’s own financial experience.
Disabilities – Some students may need extra accommodation costs due to special needs, and there is usually extra money available to help fund access due to special needs.
Parents Lost in Service: Military, Police, Fire – those who serve are renowned for looking after their own.
Parents with Cancer – Check with societies that cater to people with this particular illness and their families.
Employers/Companies – Places where parents work may have scholarships for their employees children, through either the employer or the union.
Contests – scholarship sites have contests.
Church or Community – regions may promote the support of young people from their area.
If you know of any other ways to help fund students post secondary education, please share.