Money & Mental Health: Have You Talked With Your Student About These Topics?

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Subject: Money & Mental Health: Have You Talked With Your Student About These Topics?

Talks to have with your child about money and their mental health.

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Talks To Have With Your Teen or Young Adult

The clock is ticking…

And the time you will have left with your high school student before they head off to college is shrinking. You’ve had eighteen years’ worth of time to discuss a host of life lessons, and yet right now, it feels like all those parental pearls of wisdom were not enough.

According to the Student Loan Report, over 70% of college students are student loan borrowers and the student loan default rate is 11.5%. With those numbers, you want to make sure your student understands the basics of finance, how to manage money, and stick to a budget. These tips, taught early, can help save them from lifelong money struggles.

Money problems are just some of the stressors that college students can encounter.

Social, academic, and emotional pressures can weigh heavily on students, some of whom will be away from home for the very first time.

The National Alliance on Mental Illness recently reported that more than 75 percent of all mental health conditions begin before the age of 24. While having these conversations requires delicacy and tact, it is crucial that your child understands the signs of depression and mental illness, and where to turn for help, if necessary.

Read How to Have the Mental Health Talk With Your Child.

Going away to school without a support system can leave many students feeling vulnerable.

Letting them know that those feelings are normal, and helping them foresee some of the bumps in the road that they will encounter will allow them to mentally prepare beforehand and hopefully handle those situations with aplomb.

Finding the time to discuss any hidden anxiety they may have and to explain what they may be up against can help allay their fears and can be priceless.

Read 10 Talks to Have With Your Child As They Transition to College.

RESEARCHING STUDENT LOANS? CHECK OUT THESE LENDERS.....

COLLEGE ADMISSIONS GRADE BY GRADE: WHAT TO DO NOW.....

Rising Seniors....It's time to understand Demonstrated Interest - what it is and the best ways to show it to colleges. We recently did a Facebook Live with Anna Ren, an independent college counselor, who shared the 6 ways she tells her students how to show demonstrated interested to the colleges on their list.

Rising Juniors...If you haven't yet, please have a conversation with your child about college costs and what you can afford. A recent study found 62% of high school seniors "agree that they haven't done enough research about how to pay for college" - Yikes!

Rising Sophomores...Make sure you understand what EFC stands for and what yours is.....Learn How Your EFC Is Really Calculated and Thinking About How To Pay For College? You Must See This EFC Chart.

QUESTIONS ABOUT PAYING FOR COLLEGE?

Join our Paying For College 101 Facebook Group

QUESTIONS ABOUT PAYING BACK STUDENT LOANS?

Join our Paying Off Student Loans 101 Facebook Group

If this newsletter no longer fits your needs, consider receiving our new newsletter, focusing on financial issues related to students currently in college or recently graduated. Sign up here.

Debbie Schwartz, Road2College, 19072, Narberth, United States

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Subject: Money & Mental Health: Have You Talked With Your Student About These Topics?