By FPA member Lisa A.K. Kirchenbauer, CFP®, RLP®
Last Updated: June 28, 2010
Are you prepared to send your child off to school? Here is a quick checklist for you to use before they leave:
- Did my child win any scholarships/awards that need to be reported to the school?
- Have I looked into any and all sources of funding and payment options if I will be expected to cover some of the cost? (student loans, parent loans, work-study, grants)
- Does my student know how to balance a checkbook? Have we set up a bank account at school?
- Do I have copies of their driver’s license, passport, birth certificate, Social Security card and any other important documents?
- Do I have a power of attorney (medical and general), as well as an Advanced Medical Directive for them?
- Have we discussed their discretionary spending needs?
- Did we set up an agreed upon monthly or bi-weekly deposit for their discretionary spending?
- Have we talked about the responsible use of credit cards and what they can charge on the card?
- Do they need a computer for college? Can I get a discount by buying it at the college?
- Will they have health insurance through school or my employer? If the health insurance is through my employer, have I given them their health insurance card?
Additional Resources:
FPA member Lisa A.K. Kirchenbauer, CFP®, RLP®, is the president of Omega Wealth Management.
