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A common goal for many parents is to provide as much financial support for their children’s college expenses as possible. While there is a strong link between the amount of support provided and graduation rates, a recent study by the American Sociological Review seems indicates that there may actually be an inverse relationship between the amount of financial support and their grades!
We often set financial goals without full consideration of the impact that goal will have beyond the money. Providing our children with a college education is a massive commitment and an admirable goal. However, I submit that for most parents, the real goal is not about the money as much as it is providing our children with the opportunity to succeed. And that formula is different for every person. (more…)