Many Parents Believe Their Kid Will Not Finish College!
It’s almost time for kids to start heading off - or back to - college. But while parents are often shelling out big bucks for that education, it seems many of them aren’t exactly confident their kids will actually finish.
In fact, a new survey finds that 50% of parents aren’t “very confident” in their kids finishing school without having to temporarily withdraw at some point, although 49% of students are very confident they will finish without needing a break, with 46% believing they’ll get their degree within four years.
And as much as parents are worried about kids not having a degree, many are even more concerned about what their kids’ withdrawal will do for them financially. In fact, 80% of parents and students believe the financial repercussions from an early withdrawal could be severe, with many expecting that loss will cost about $10,000. In addition, 80% of parents and 84% of kids fear having to pay off a student loan even if the kid withdraws from school.