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Jason Hagen President MSI Lending of Lexington Phone: (859)253-5363 Fax: (859)252-0929 License: 6151 jhagen@msilending.com https://www.msilending.com/jasonhagen/get-a-quote |
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August 2009
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Don't Leave Home Without This! Subjects to Address with Your Undergrad-To-Be The college fall semester is right around the corner and for most incoming freshmen it will serve as a maiden voyage for living away from mom and dad. If you're a parent who's facing this situation, here are five topics that are a must to discuss with your undergrad-to-be. The pre-college to-do list is daunting to say the least. From setting up financial aid to securing a place for your child to live, getting ready for college is a process that takes many months to execute. As a result, there are several very important topics that many parents never get around to discussing with their child. We suggest using the next few weeks to catch up on these conversations, establishing a line of communication that will benefit all concerned. Study Habits and Grades There are many reasons why students drop out of college, but at the top of the list is poor grades, or an inability to adapt to the demands of an advanced curriculum. One can only wonder how many of these students would have benefited from the proper intervention early on in their college careers. We suggest that you get the ball rolling NOW. Start by clearly establishing with your child that college will be a much different experience from high school, especially considering how far away you as the primary support system may be. An effective method for accomplishing this is allowing a peer to reaffirm the message. If you have friends or extended family with a child already attending college, arrange for your child to talk to them about their experience. You'll also want to be clear with your child about what you expect and that he or she is still accountable to you for the grades received. Let your child know you'll want to see report cards, and that you'll be asking for updates on grades throughout the semesters. It is so important for you as the parent to make the communication process an inviting one. Think of it this way. If your child ends up having an issue with a certain class, you'll want to know about it as soon as possible. Having open channels of communication will help facilitate this. Lastly, we suggest that you take a proactive approach by contacting your child's college, inquiring about any available study programs and student mentors. Many universities have programs like these in place, which help incoming freshmen adapt to their new academic curriculum. Money Whatever your arrangement, do not send your child to college without establishing a written budget. Show your child the fixed expenses in relation to the money you're providing. Explain that the money left over is what's allocated for fun and entertainment. Not doing so can result in endless requests for more money, not to mention a poor foundation for your child's future budgeting skills. In terms of getting your child a credit card, we suggest proceeding with extreme caution, as credit card debt among college students has become almost epidemic. According to Sallie Mae, a college financing company, the average credit card debt for college undergrads in 2009 is over $3,000, a thousand dollars more than it was in 2004. What's worse is that average balances are even higher for students in their third and fourth years of college. Don't forget to warn your child about the high-interest cards that may be solicited to them while on campus. Talk about the responsibility that comes along with having a credit card, as well as the potential dangers. Let your child know that starting out in life with high interest debt is not the recipe for success. Dating and Friendships Events in college students' personal lives have the potential to be a huge distraction to their education. Remind your child about the importance of good decisions, as well as maintaining a focus on education. After all, it is the primary reason for attending college. Let your child know you wish to be kept in the loop regarding friends new and old. This is not only for your peace of mind, but also for your child's safety. Be sure to make it less about the details of the relationships than about maintaining a connection to you and the rest of your child's support system. You may also want to use the subject of your child's personal life to address your expectations for vacations and breaks. Are you okay with your child spending the holidays with a friend, or do you expect your child to come home? How do you feel about friends or significant others coming to your home on breaks? This is a good time to let your child know how you feel. Drugs and Alcohol It's one thing to set up rules while your child is living under your roof. It's a whole other story when your child is living hundreds if not thousands of miles away. Considering there is no immediate accountability to you, the parent, we suggest sharing a few statistics. According to an Associated Press analysis of federal records, 157 college-age people (18-23) died due to alcohol poisoning over a 6-year span between 1999 and 2005. Eighty-three of these victims were under the age of 21. What's most important to understand is the numbers quoted only reflect deaths due to alcohol poisoning, giving no consideration to traffic fatalities, homicides, injuries, or sexual assaults. Further analysis by the Associated Press revealed that college freshmen were at the greatest risk, with three quarters of the deaths occurring within the students' first semester in college. Take the next few weeks to reemphasize the lessons you've already taught your child and to remind your child that his or her life is just beginning. Personal Responsibility Explain to your child that the idea of a "permanent record" is now in effect. How people handle themselves from this point forward will either positively or negatively affect the rest of their lives. College can be a wonderful experience with infinite possibilities. Talk about these possibilities with your child, explaining the benefits that come with embracing them. Most importantly, let your child know that the next four years will contain some of the more memorable experiences of his or her life. Here's to some positive memories for both you and your child. | ||||||||||||||||||||||||||||||
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