Student Loans 2012

Lokolo

setmefree2 wrote: »

I really don't understand why you are making assumptions that we are not involving our son in any of this? Where did I say that?

It's more that you could end up too involved. And thus, your son not learning a thing.

setmefree2

Lokolo wrote: »

You shouldn't be deciding your son's future based on your finances. At 18 you can have sex, get married, get a house, run a business, buy shares - your finances don't have to be a deciding factor.

By all means if you want to give him money you can, but its not a neccessity.

YOUR WRONG! It is a necessity.That's probably why so many students are in trouble. The government have decided that I have to make a maintenance contribution to my son! It is a necessity. It's OUR RESPONSIBILTY as parents. What do you expect him to do live on a £3.5k loan? Get into debt on a credit card?

setmefree2

Lokolo wrote: »

You shouldn't be deciding your son's future based on your finances.

!!!!!! how did you reach that conclusion?

At 18 you can have sex, get married, get a house, run a business, buy shares

Yes and you get government grants and loans based on your parents - go figure?

setmefree2

Lokolo wrote: »

It's more that you could end up too involved. And thus, your son not learning a thing.

I talked to my kids about money from the moment they were born:D My son has his own bank account and manages his allowance. We have a good, open relatonship about money FYI.

PaulW1965

setmefree2 wrote: »

Which is all we are trying to do

I, for one, admire you very much. I honestly can't understand why you are taking so much flack.

Braveheart100

melancholly wrote: »

OP - all ONW is saying is that you should involve your son in this. that's good advice! it makes sense that you get a handle on the situation first, but i think organising his weekly budget this far in advance is moving towards the interfering end of the scale.... that's just my opinion though. we've seen the worst possibel outcomes of 'parental help' and so are likely to be much more cynical!

It's not interfering, it's Financial Planning. If more parents did it, maybe we wouldn't have so many indebted young people?

I_Wanna_Retire_Someday

melancholly wrote: »

olly has said it all - there's helping and there's interfering. explaining to children why choices are made and empowering them with financial skills is massively important.... i'm not sure that making every decision for them is 'good parenting' in the long run. there's always a halfway house of reality, but the longer you spend on this board, the more you'll see financially illiterate graduates who don't know what they're doing.

OP - all ONW is saying is that you should involve your son in this. that's good advice! it makes sense that you get a handle on the situation first, but i think organising his weekly budget this far in advance is moving towards the interfering end of the scale.... that's just my opinion though. we've seen the worst possibel outcomes of 'parental help' and so are likely to be much more cynical!

Yes. There do seem to be many financal illiterate posters on this board! Some of them even seem to give advice :rotfl:

BACKFRMTHEEDGE

Ha ! Ha ! setmefree2 you are so right. This is got to be some of the most hostile posters on any board on MSE. Anybody would think you were abusing your kids not looking out for them. You couldn't make it up

melancholly

Braveheart100 wrote: »

It's not interfering, it's Financial Planning. If more parents did it, maybe we wouldn't have so many indebted young people?

seriously, search this thread for posts from students and graduates with no concept of what a student loan involves. no-one's saying don't help, just saying be careful to make sure that the decisions are made by the student.

if more parents taught their kids financial planning and budgeting, or how to do basic cooking, more students would come out of uni in less debt. i'd actively encourage all students to get involved with understanding the financial implications - but that isn't the same as the parents planning it all out for them. there is a difference. i'm sorry that you can't see the difference.

Lokolo

setmefree2 wrote: »

YOUR WRONG! It is a necessity.That's probably why so many students are in trouble. The government have decided that I have to make a maintenance contribution to my son! It is a necessity. It's OUR RESPONSIBILTY as parents. What do you expect him to do live on a £3.5k loan? Get into debt on a credit card?

That honestly shows how little you know about this situation. Not meaning to offend of course, but given that I am now in my 4th year of being a student - I know a heck lot more than you do about finances with them.