Financial Resources

You’re the CEO of your financial future! If you take out student loans, they’re your responsibility to repay—non-dischargeable, even in bankruptcy. Unlike other debts, they follow you like a shadow. Be Street Smart: explore scholarships, side hustles, or sponsors to minimize loans. Take charge now, and you’ll graduate debt-free, ready to build wealth! Clarify exactly what your parents expect you to do repaying these loans. Just because they are a co-signor doesn't mean they are agreeing to pay it unless you default.

Talk to your parents—are they expecting you to work during the school year? Part-time gigs can cover expenses and cut debt. Even 5 hours/week at $15/hour adds $3,900/year! Balance school and work to show responsibility. 

Do your parents expect a cut of your college earnings? Some might ask for 20-50% to cover household costs, teaching you financial teamwork. Clarify their expectations to plan your budget. If you keep 100%, use it for tuition or investments! Budget and map your earnings split. Negotiate with parents, trying to bridge the gap from childhood to becoming a responsible adult by shifting more and more responsibility for your debts you incur for college education.

When parents chip in for college, is it a gift or a loan? Ask upfront to avoid surprises! If it’s a loan, clarify terms—repayment timeline, interest, or maybe helping with family projects. Clear terms build trust and responsibility. Draft a family agreement so everyone has a reference point, including setting up fair repayment plans.

Who covers your college room and board—parents, you, or a mix? Typical costs are $10,000-$15,000/year, so clarify expectations! Work-study, scholarships, or side hustles  can help you chip in. Take responsibility and earn as much as you can as your contribution. Explore how to fund dorm life without piling on debt!