I’ve seen some kids who don’t pay for their education do some pretty horrific things, like not going at all to classes and instead of just dropping and getting the money back from the class, they just settle for an F in the class. Whereas, if you’re paying for that class, you will be wanting to learn every thing you can to get your money’s worth.

Kids who pay their own way also have greater financial planning and budgeting skills. They know they cannot fall back on anything so they know their grades have to be good, they have to budget time to work so many hours, or compete for as many scholarships and grants as possible.

There are many benefits to having your parents pay for your education though. For instance: having to worry less about your financial situation, not having to work a job through college. Hypothetically, all of this should free you up more t study, but I find it’s rarely the case.

One huge drawback that must be considered if your parents are paying your way is that this now THEIR education too. They have a high stake in it and if they don’t like a class your taking, or your major or minor, they have every right to demand you change it.