Aging Workforce Solutions, LLC

123 College Family Homework Test


123COLLEGE FAMILY HOMEWORK TEST

1)       My family has had comprehensive discussions with our college bound child on their potential for success in their desired major area of study.

Yes, in depth_____(5pts)                  Yes, limited_____(2pts)                  No______

2)       My family has had comprehensive discussions with our college bound child about how they will monetize their degree.

Yes, in depth_____(5pts)                  Yes, limited_____(2pts)                  No______

3)       My child has reached out to professionals in their targeted profession and learned from them the skill sets it takes to be successful in-and the negative aspects of- that job description.

Yes, numerous people_____(5pts)      Yes, limited_____(2pts)                  No______

4)       My child’s major area of study and intended career will give them:

Above average income_____(5pts)          Average income_____(2pts)          Below average income_____

5)       The process of determining my child’s major area of study has been:

Free of dysfunctional conflict_____(5pts)         Somewhat contentious_____(2pts)     A disaster_______

6)       Schools offering scholarship assistance have strong degree and career development programs appropriate for my child’s goals.

Yes, very strong match_____(5pts)        Somewhat appropriate_____(2pts)      Not even close_____

7)       My child has had life experience that will facilitate them living functionally in academic and social venues without parental oversight and supervision

Yes, strong degree of certainty_____(5pts)        Moderate degree of certainty_____(2pts)

Little or no certainty_____

8)       If my child is unable to meet student loan repayments upon leaving college, the assumption of repayment by their co-signer will:

Not be a problem; our family has significant financial reserves _____(5pts)

Potentially cause financial distress; our reserves are limited_____(2pts)

Be a financial disaster______

 

9)       My family has evaluated the potential to fully fund my child’s college education expenses if the family breadwinner(s) lose their employment income

Yes, and the loss would not be a problem____(5pts)       

Yes, but the problem would be minor_____(2pts)

No, we have not considered it and or it would terminate the intended plan_____

10)  Regarding expenses other than room, board and tuition-travel, books,  software, computers, social, equipment, etc:

Yes, we have factored all the potential additional expenses into our plan and they are manageable_____(5pts)

We have given consideration to the various additional expenses and are uncertain if all of them can fit into our budget______(2pts)

No, we have not given any consideration to expenses beyond room, board and tuition.

SCORING

HONOR ROLL  35-50 pts

You have established a well thought out plan.  Your child will be better positioned for success because of your efforts.

PASSING GRADE  22-35 pts

You have done some good work… Don’t give up now!  Reach out for assistance where your plan may be weak! It can make a difference in saving money-and sanity!

DETENTION  10-22 pts 

Ooops!  Life has gotten in the way of potential success in your planning.  Take time to reevaluate your process and procedure relative to your outcomes. Help is available-see “money and sanity” above!

SUMMER SCHOOL  0-10 pts

REACH OUT FOR HELP!!  It can make a difference!!  Ask us or someone in the schools and or Youth Center for help with any questions you may have.

If you have questions better asked in a private conversation, please contact us at your convenience:

Tom Smith   123collegect@gmail.com  203-352-3916