4You, Your Parents, and Their Money

WELCOME TO THE most uncomfortable part of the book!

As far as conversational topics go, money is awful. It’s unpleasant and frequently leads to conflict. Chances are, you, or your parents, or all of you together, have been putting off this discussion. You probably don’t know very much about your parents’ financial situation, other than that you need financial aid to go to college. Most people don’t share their finances with their children, so you’re not alone.

The goal of this chapter is for you to have a productive and helpful conversation about your parents’ finances, and to figure out how your family is going to make your expected family contribution, or EFC. (If you’re not familiar with the EFC, turn to ...

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