KB Poll: Parents Should Be Primarily Responsible for Post-Secondary Education

A highly engaged audience weighed in on who should fund post-secondary education as Knowledge Bureau’s August poll asked, in your opinion is it the parent’s responsibility.

The yes side won, 55% to 44.5% but, most felt it was a shared responsibility, providing thoughtful and insightful commentary.   Check it out:

Katherine, for the no side, believes it’s up to the child.  “I don’t think parents should have to pay for post-secondary education.  If you want something, do the work and pay your own way. It may mean that you don’t enter university or college right out if high school, but it will be your commitment and hard work that makes you a success, not your parents. I took nothing from my parents, neither did my siblings. It was not their obligation to pay for us.  They still have to support their retirement.”

Alan has had positive results putting the responsibility on the student.  “I feel that funding post-secondary education is the responsibility of the student for a couple of reasons:  First, it provides a opportunity to introduce financial literacy and responsibility to the young adult.  Secondly, when there is a financial responsibility attached, there is a new appreciation to work hard and succeed.   It is the parent’s responsibility to pick them up when they fall and provide support only when required.  Proud to say that my children paid their own post-secondary education costs with Dad only floating bridge financing.”

Frank felt education is an obligation of parenthood.  “In my opinion is the parent of a child responsible for its education. It is the most valuable gift any parent can give to a child. It is a tragic reality that so many parents do not saving for their kids’ education and therefor destroying for many even the chance of a University or College degree. We can see it every year, where high school scholar graduates cannot achieve their dream because they can’t afford it. It’s where being a parent really matters, not where it stops.”

John C., was also firmly for the yes side.  “If parents can afford to, it’s a great way to help the next generation become homebuyers much sooner, potentially.”

From Anjana, a vote for parents to support costs for first two years of study:  “I believe it should be joint.  After high school young adults are not ready to bear the burden of all the expenses on their own.  At least for two years their parents should support them financially and even morally so that they can concentrate on their learning and achieve their goal. Student should not be stressed. . .about paying all the university expenses.  If they have a clear understanding of their program and career, this will also benefit our society.”

Darlene also believes it should be a shared cost, but that the child should fund Year 1, and that public support should be overhauled.  “Subsidization of post-secondary schools and readily available student loans are overdue for change.  Students should only be able to get a student loan if the program they are entering will have considerable job opportunities upon graduation. Cost of school should not be a hardship for parents, but less availability of funding might force some parents into utilizing RESPs more.  Students may be less likely to take programs where no, or extremely low paying, jobs exist, if they were footing the bill, and if loans were not available.  I often recommend to my clients that their child find some way of funding year one, and that the parents wait to help out until they know their child is committed.

Don P. agrees that each party needs to pay something:  “My daughter’s mother and I agreed to save $150 a month for 18 years and it has paid off.  She has a vision for her life and we have helped her be able to pursue it instead of being caught in a pattern of taking work she hates just to get somewhere she might like to be.  That is why I believe parents and grandparents should help their offspring along. The child should pay for some of it just to ensure they really understand the cost.”

Jo’s opinion is that children must have skin in the game:  “Children should have a direct financial investment in their education as it is their future which is at stake.  If a child cannot afford to pay for the cost of post-secondary education, then by all means the parents should pitch in.  But no child has the right to be a student indefinitely on the parents’ money, particularly if the parents are making sacrifices to keep said child in school. Our three knew from an early age that they were to 1) finish high school; 2) get a further training; and, 3) contribute financially toward said training.  It worked:  we have three successful professionals in the family.  I am convinced having to put up their own money helped our children focus and make wise choices in their courses and careers.”

Robin believes it’s a joint responsibility.  “If the student/child has $ invested they will more likely make a greater effort to get good grades rather just getting by.”

Don voted for joint funding with parents stepping up early.  “We should do what we can to help our children succeed, however the student should also take responsibility.  In our case we covered the first two years of university, they worked summer jobs & remained living with for the remaining university years.  Both our daughters got their undergraduate degree as well as a secondary degree and are doing well.”

Janet agreed.  “I think funding education should be joint.  Student must initiate and show desire and commitment that means being prepared to fund or at least partially fund it.  Parents should be supportive both financially and emotionally.”

Les B. is concerned about debt burdens. “. . .I graduated with substantial and crushing student loans that were always on the brink of default and a financial drag for over a decade post-graduation.  Today it is easy for students without parental financial assistance to graduate with student loans in the range of small mortgages without the 25-year amortization period. . .an amount that almost no first job will support no matter what profession you pursue.  Accordingly we have a very well-funded RESP for our children, it may not pay all of the costs but it will also greatly reduce the debt burden once they get out on their own.”

Pat agreed that education planning with RESPs is important.  “If you have children, it’s your responsibility to plan their future. Do not have children if you do not want responsibility. Today’s cost of living, housing etc. is phenomenal compared to standard wages. The students of today have higher standards and competition to meet. Their lives are much more complicated with a large degree of responsibility and added stress. Personally I applied for RESP when they were young and have had a great advantage for the children. They were able to pick up extra courses during the summer instead of working. Putting aside money adding to investments also contributed to the financial plan. All parents should plan for the future of their children.”

Barbara also advocates for a sound, multi-generation educational savings plan. “There are also tools out there for parents to save for this, such as RESPs. This is what we did for our son, and his responsibility was to pay for his books and course materials. We are also now paying into RESPs for two of our grandchildren.”

Diane brought tax literacy and entitlement into the funding equation.  “One strategy I use in my tax practice is have the student transfer their tuition fees to a parent, calculate how much tax was saved and quite often the parent gives this amount to assist the student with the costs.  If a student exceeds in their studies and subsequently end up with a student loan or LOC, I believe if the parent can, that is when the financial assistance would be best.  Too many young adults are handed the world on a platter and this sadly, sometimes shows in their attitude as adults in the working force.”

Maria thinks it’s about spending priorities.  “I know our children would never go to college or university without our help. The best gift that parents can offer their children is not a car, it’s education.”

Gerry, meanwhile, thinks it’s the governments’ responsibility.   “The Government wants an educated tax paying workforce, then the government should foot the bill and let students choose from a list of necessary job educational needs.”

Brian offers a shared responsibility between three stakeholders.  “High school education is no longer enough anymore and it hasn’t been for years. It’s time for governments to cover the cost of at least the next two years of education, whether it be college, university, or trade schools. Beyond that it should be personally financed and whether it is split between parent and child is up to the people involved.”

Peter, too, believes education is a national investment, “. . .absolutely a necessity for the successful performance of the Canadian economy. “A nationally financed, government run student grants system is necessary. . . (but). . .grants must, at least in part, be repayable in the event of abuse. This could be implemented by claw-back and/or forgiveness of grants initially provided as forgivable loans.”

Rosalind agrees, but advocates for a three-part role. “While I voted YES, in this day and age it cannot be solely the parents’ responsibility.  Even with the new government funding to cover tuition, there will be additional costs for books, supplies, room and board, travel, not to mention little extras.  Students need to take some responsibility as well, or the whole experience loses value. Parents should also help their children find grants and scholarships where possible, and choose the best education option of those available for the child(ren).  It would also be a shame to lose out on government grants within RESPs - assuming the process will continue.”

Ken looks forward to a utopian solution, some day.  “I did not vote, as it is not a simple Yes or No answer. . .Some day we may reach a happy medium, where higher education IS available to everyone at a reasonable cost, where job opportunities exist in whatever path we choose. Until then, parents and students need to share the responsibility, to achieve the education they both want and they both can afford. Nobody should have to pay the rest of their life for knowledge, not the student nor their parents.

Last word goes to Lori, who addresses student responsibilities now and in the future:  “It doesn’t matter who pays the tuition, parent or child, what matters is that they use the expensive opportunity given to them wisely, and gratefully, and become responsible taxpayers after they are schooled.”

We wish to thank everyone for participating.  Join us for the September poll:

In  your opinion, would Canadians be encouraged to share more with their communities if the charitable donations tax credit was further enhanced?

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