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Wednesday, October 08, 2008

Parents' role in financial stupidity

The Oct 8 WSJ (D1, dead tree edition) has an article titled "The Next Bailout: Your Adult Children?"

Favorite quote:
"Some 70% of families don't even consider a student's likely post-graduation income when deciding how much to borrow for college ... and 40% said they paid no attention to cost in searching for a college."

What were these people thinking? These are their own children they were sticking with debt. Part of being a parent is teaching your children basic financial management.

1 comment:

  1. It's likely that they have placed their trust in the schooling of the state and they probably bought the new version of Monopoly for their kids.-- The one that has no cash, only credit cards. Marketing cradle to grave.