A couple of years ago I read a news story about a woman from China who bought an apartment in New York City for $6.5 million. She bought it for her two-year old daughter and plans to hold on to it so that when the child grows up and attends an American university, she’ll have a place to call her own.
Must be nice, right? How many of those 8,200-plus students who pay $9,000 to more than $10,000 to double up in one of UW’s 19 residence halls would like a sweet deal like this?
Let’s take a look at what the experts say.
Fears of creating a financially-dependent monster
Many parents worry about fostering financial dependency when helping their adult children financially. How your child deals with your generosity, however, has to do with his or…