Money Matters

Encourage your child to help pay for college in the best way possible. Being in high school is a perfect time to jump into the workforce. Getting and keeping a job not only helps your child earn money, but also teaches him/her a lot about responsibility, areas of potential interest in the future, business skills and more.

Taxes

Having a child in college can be advantageous when it comes to your taxes. Check out the IRS Web site for more information about tax benefits for education.

Credit Cards
 
When sending your child off to college, you’ll want to ensure some sort of financial security in an emergency situation. Though you may be hesitant to consider it, a credit card can provide for your child in the most desperate of situations. Discuss the importance of paying off debt on credit cards and explain the hazards involved if a payment is missed or interest is left to accrue over time. Research your options carefully to find the best credit card for your child’s needs. For more information about credit and credit cards, check out the University of Illinois Extension Parent Smarts: Credit Information Series for Parents.