Pay for your kid’s college? 3 times to think twice

By CECILIA CLARK of NerdWallet

Parent student loan debt has skyrocketed to over $103 billion with more than 3.6 million borrowers. And for many parents and grandparents, that debt is hampering financial health and retirement prospects. It’s understandable for parents to want to give the best to their children, but taking on debt may be a bad idea. Parents who haven’t factored college tuition into their retirement, can’t afford a student loan bill or haven’t set boundaries with their college child would do well to reconsider paying. But if you’ve already taken on debt and need help, you have options.