Addressing Financial and Health Issues
- Power of Attorney - gives parents the right to sign documents, pay bills, oversee financial accounts, etc., in case the child cannot take care of these items for some reason.
- Health Care Proxy - gives parents the right to make decisions for the child in cases of emergency. Whoever is appointed the proxy should be identified on a Health Insurance Portability and Accountability Act, or HIPAA, form to give medical professionals permission to share information about their patient. If your child is attending college out-of-state, check in with your health care provider. Medical directives are also specific to the state in which your child will be attending college.
- Living Will - states your child’s wishes regarding the extent of life-extending medical treatment that they would want to receive in case they are incapacitated, as well as their interests in donating organs. A will is especially important for families that have invested in estate planning techniques aimed at passing wealth down through the generations, because the adult child's assets will go back up to parents if nothing is in writing to stipulate otherwise.
- The Family Educational Rights and Privacy Act (FERPA) is when a student turns 18 years old or enters a postsecondary institution at any age, then all rights afforded to you as a parent under FERPA transfer to the student ("eligible student").
However, FERPA provides ways in which a school may — but is not required to - share information from an eligible student's education records with parents, without the student's consent.
➢ Schools may disclose education records to parents if the student is claimed as a dependent for tax purposes. ➢ Schools may disclose education records to parents if a health or safety emergency involves their child. ➢ Schools may inform parents if the student, if he or she is under age 21, has violated any law or policy concerning the use or possession of alcohol or a controlled substance. ➢ A school official may generally share with a parent information that is based on that official's personal knowledge or observation of the student.
Miscellaneous Items for discussion:
➢ Traffic Tickets – sometimes even one ticket can impact insurance rates
➢ Parking Tickets – impounded cars incur costly fines!
➢ Rental Agreements / Security Deposits (Renter’s Insurance) / Co-signer’s Responsibilities
➢ Credit Card Debt / Bank Overdrafts
➢ ID Theft
➢ Property Theft such as expensive electronics and computers, jewelry
➢ Repaying student loads . . . is real, regardless of your situation. Be aware of what you are signing up for – see https://studentaid.ed.gov/repay-loans/understand/plans
➢ Upcoming changes with filing for aid
-IRS plans to stop faxing and mailing 3rd party tax transcripts - https://www.irs.gov/newsroom/irs-takesadditional-steps-to-protect-taxpayer-data-plans-to-end-faxing-and-third-party-mailings-of-certain-taxtranscripts
Schools have better security than ever, but students are ultimately responsible for their own safety. Safety tips to discuss with your child include:
- Know your surroundings and trust your instincts - Keep campus safety phone numbers in your cell for emergencies - Lock your door. Don’t loan your key to friends. - Don’t accept drinks (alcoholic or otherwise) from others. Remember alcohol is the #1 date-rape drug - Students should let someone know where they are going, who they will be with, and when returning - Students should not prop doors open - Students should be careful about posting personal information and statuses on Facebook, Twitter, and other social networking sites
- Safety first . . . Students should understand what steps upper classmen take to maintain their safety. Check out some of safety apps available for your phone such as Circle of 6, Guardly, bSafe, Panic Guard, MyForce, On Watch - Check the Education Department’s Campus Safety Resources - http://ope.ed.gov/campussafety/#/ - Students should understand their rights covering Sexual Harassment Protection and Due Process - http://clerycenter.org/policy-resources/the-clery-act/ - Students should educate themselves in regards to Hazing Awareness and Prevention - http://hazingprevention.org/
– For more on emotional well-being and what to expect, see The Jed Foundation - http://transitionyear.org/.