KIM, YOUNGMI, JIN HUANG, and MICHAEL SHERRADEN. “What Shapes Assessment Of Ability To Pay For Children’s College Education?.” Journal Of Consumer Affairs 48.3 (2014): 486-514. Academic Search Complete. Web. 20 Apr. 2015.
In this article, it addresses the question - What Shapes Assessment of Ability to Pay for Children’s College Education? The authors of this article proposes an answer to this question; it is the parent(s) job to make sure their child/children have the proper support to invest their money into higher education. Parents need to have a concrete financial plan for college tuition or their child will not have the sufficient education needed to finish a college degree. If the parents do not have a sturdy plan for their child’s college, then the child will be forced to make last resort choices such as postponing their enrollment, getting high eduation debts, or even working long, ridiculous hours to try to prevent debt. In a lot of cases, poor parental plans will cause their child to go to cheap institutions that do not meet their goals in education. Some of these institutions do not even deliver the right studies.
Kim, Huang, and Sherraden states that, “… many parents are poorly informed about planning for college cost or unprepared to undertake it”(487). This shows that when people become parents, they need to be advised on how they need to carefully plan out a financial system in which they can use to help their child attend a higher education school to invest in. The parents need to be willing to help and involve themselves in their child’s educational goals. Of course, those of low income will most likely be unsure of how to invest in higher education, which leads their child to be in an educational strain. However, no matter how much the income is, the parent(s) significantly influence their child’s education if the parent(s) are very aware and involved in the financial planning.
This article provides a model on how the child’s financial assessment is created. The socioeconomic status, the parent’(s) view and attitude towards education, and the management of their finance plays a huge role on how their child’s financial assessment is created. The most important factor that plays in on how much a child will get support for college is the parent(s)’ financial management skills.
Parents of young children need to be very aware of college costs and how they will provide support for their child to attend a good school that meets the educational priority.
This article was chosen because it showed a good solution to how children can succeed in higher education (no matter the costs) if the parent(s) are willing to invest in their child’s education and future. Even if the parent(s) are of low-income, there are multiple ways and options to help the parent(s) and child prosper. I will use this article in my counter argument to show that there is not just one side to a situation and that I am aware of other solutions.