Melissa Korn

speaker

822 appearances 14 recordings 1 series first heard Sep 2017 last heard Sep 2024

Melissa Korn’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Paying for College: When Should Families Have ‘The Talk’? · 25 Apr 2022 podcast

Not necessarily. voice-verified

I think the schools do have to provide this balance because they also can't go so far as to say, look, your kid will come here and it's country club for four years. voice-verified

Parents understand that at this point they shouldn't be paying for that. voice-verified

That's a very expensive country club. voice-verified

Absolutely. voice-verified

So the talk should be about here's how much is in the bank now. voice-verified

All various accounts, you know, college savings accounts, regular savings accounts, the kids accounts. voice-verified

Right. voice-verified

So it's the parents money that's been set aside, the kids money that's potentially been set aside if they're working a part time job or, you know, been putting away bar mitzvah money and birthday money. voice-verified

But also here's what money isn't on the table. voice-verified

You know, mom and dad saying we are not dipping into our 401k to help you. voice-verified

That is not an option. voice-verified

Or, you know, no, we're not going to get a second mortgage on our house. voice-verified

You know, we don't think that's a reasonable approach. voice-verified

Or, yes, we will take parent plus loans. voice-verified

We will take out federal loans to help you pay for college, but we're only going to take out X amount. voice-verified

Or if we're taking out loans, we expect you to take out loans as well. voice-verified

So looking at all the different pools of where money could be coming from, right, from the savings that's already there, from future earnings for the kid, you know, in the next year or two of high school, talking about military benefits, right? voice-verified

Does it make sense to go the path of doing an ROTC program or going into active military? voice-verified

duty and then pursuing a college degree afterwards. voice-verified

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