Should We Pay for Our Child’s College Tuition or Have Them Take Out a Loan?

You may be considering paying for your child’s tuition rather than have them take out a loan.

If you were to spend too much on your kids’ education to make life smoother and easier for them, it could create issues for your retirement going forward. Now, if you didn’t pay for your child’s education, they potentially could still get a loan or a scholarship.

Unfortunately, there’s no such thing as a scholarship in retirement. It’s really important for you to take a look at the whole equation on whether or not paying for your child’s education will derail your own savings plans.

Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor serving the greater Sacramento area with an office in Roseville, CA. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country's leading professional association of fee-only financial advisors.