As a parent, you are not responsible to pay for your children’s college expenses.

Nonetheless, many parents desire to help. They want their children to obtain a college degree, but they do not want to see their children burdened with student loan debt.

Though my kids are young, I am in that boat. I want to help.

So far, the Millennial parents are doing better than any prior generation when it comes to college savings for their children. This is probably because the Millennials have felt the consequences of student loan debt more than any other generation.

But what if you are not able to set aside money for your kids’ college? How can you help? Many parents are asking these questions.

If you find yourself wanting to help reduce your kids’ education expenses but don’t have the financial means to do it, consider these seven ways to help reduce your child’s college expenses without using money:

1. Talk about the consequences of student loan debt. Try to help them understand what debt will mean for their life. And they need to know that student loans don’t just go away. They even survive bankruptcy.


2. Help identify schools that make financial sense. Tuition prices do not determine education quality. There are many lesser expensive schools that are academically excellent. Help your child find a school that balances a lower cost with good academics.


3. Teach them the importance of net cost. Show them the math. A $20,000/year school may provide you with a 50% scholarship, but you are still paying $10,000 every year. A $7,500/year school with no financial assistance can actually be a better choice.


4. Assist them with exploring financial aid opportunities. This is not just governmental assistance. Most schools have several scholarship opportunities available. Some schools give tuition breaks. Many outside organizations also provide grants and scholarships. Help them figure out what is available to them.


5. Show them how to budget their money. A budget has an amazing ability to help reduce spending. Demonstrating how to operate within a budget sets them up for financial health well beyond their college years.


6. Help them find a job. You have experience finding work. You have networks that they do not. Working while in school provides income to pay college expenditures. Help them find a job.


7. Have many post-college conversations. Help them keep perspective. Help them understand that the financial decisions they make during their four or five years of college will have ramifications well beyond graduation.

Even if you are financially unable to assist your child with their college expenses, you can still help.

Your guidance matters. Your knowledge matters. Your words matter. Your help matters.

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Written by Art Rainer, member of the Summit Stewardship and Generosity Ministry Leadership Team.