Witnessing your child preparing for university can be overwhelming because there are so changes happening all at once. The good news is that if you’re retired or on the brink of retirement, you have the freedom and mobility to take an active part in this new stage of your child’s life. Your child has tough decisions to make, and your support and guidance are essential in this process.
The biggest challenge is helping your child choose a university where they can fulfill their academic potential. Read on to discover a few essential tips.
If you plan to offer financial support to your child for the duration of their studies, discuss their academic options in the family. In addition to talking about educational goals and professional aspirations, include practical aspects in your conversation. Having an accurate idea about tuition fees and accommodation costs is critical.
How much financial support can you afford to offer without this affecting your retirement nest egg? Many universities offer financial aid and scholarships, and some institutions are more generous than others. Explore all options with your child to make a financial arrangement that works for everyone.
Visit Shortlisted Universities
Once your child has a shortlist of desirable universities, visit each institution to get some direct information on the spot. Getting a glimpse into the atmosphere on campus is also vital before making such an important decision as choosing where to study.
Going to university open days with your child is the ideal way to determine if an institution is a good choice or not. Open day events are a valuable experience because they offer students and parents the chance to get answers to all their questions about a university.
Talk About Long-Term Plans
Attending university is, for most students, the first time they feel truly independent and responsible for every aspect of their lives. Living away from home for the first time is a unique experience, and each student relates to it differently. Some children cherish their independence and the chance to design their lives as they want, but others don’t like the idea of distancing themselves from home.
Chat with your child about these aspects to determine their feelings regarding possible changes in your family life. Discuss your retirement plans as well. Many retirees decide to sell their family homes and downsize after their children fly the nest. Others choose to travel around the world in their retirement years. If you have such plans, let your child know so they can plan their life accordingly.
Is your child planning to live at home and commute to university to avoid accommodation costs? Is your child considering universities in another region or country? Proximity to home is a significant aspect to consider when choosing a university, and the entire family should be very transparent about their medium and long-term goals.
Use our tips to help your child choose the university where they can best accomplish their academic goals. Make sure this change in your family dynamics does not affect how present you are in your child’s life.