High EFC, but want loans!

hsmomstef
Fri, 16 Mar 2007 10:52:54 +0000

northeastmom – thanks for the input. I think this is a good topic of discussion for any parent. When my son goes off to college, I plan on him being responsible for books and personal expenses (including cell phone and transportation). We are a low-income family and my son works a small part-time job. It is amazing the difference in attitude when it is “his” money he is spending as opposed to my money. He will ask if he can have a certain item, tell me how great it is, what a good bargain, how he cannot live without it – but when I tell him that he needs to purchase it with him own money, suddenly it isn’t so vital. My son uses a debit card (so much easier today) and checks his balance online everyday. He will probably never get a credit card (long family story – but both my kids have great respect for the proper use of credit which was learned the hard way!).