A Checklist for Graduating High School Seniors

Expert Contribution by Brian McGeough, Chatham Wealth Management

Because of the extraordinary circumstances of living during the pandemic, things that we used to think about, process and accomplish effortlessly now seem to take more of our brain power and time than ever. From keeping your kids involved with school to getting food prepared for dinner, much in our lives has changed. However, one thing that has not changed is the fact that your high school seniors will be graduating. Whether your child is moving on to college, enlisting in the military or going into the workforce, there are a number of things a parent can do to help with this transition. The “to-do” list is long, but there are a handful of things that you should consider before your child leaves home.

Check to see what is covered if your child is going to be moving out of state. Some insurance only covers emergency or urgent care visits. If your child needs on going treatment, it might not be covered out of state depending on your policy. Universities offer insurance to students that is usually pretty affordable. It is an option worth checking out. Also, make sure your child has and understands their medical and prescription insurance cards so that they can put the claim in right away when they receive services. Many children have probably never dealt with their own healthcare needs.

You still may be supporting your child financially, but if they are over 18, they are considered an adult under the law. If your child goes to the hospital or a doctor, you will not be able to get medical information on them unless they have signed a HIPPA release. Have your child sign a release with each medical provider they go to so that you can have access to their medical records.

You may be paying every penny of your child’s tuition, room and board, but that does not give you the right to access their grades and disciplinary records without their consent. Make sure that your child designates you to the university as someone who can have access to this information.

Let your child know what is included in tuition, room, and board. If they have a meal plan, they should know that it is pre-paid for and Chipotle is not part of the plan. No matter what walk of life your child is moving on to, creating a sheet of expenses on how much gourmet coffee, restaurants and food delivery costs will be eye opening if you add it up on an annualized basis.

Setting up a bank account for your child is essential. Many local banks will have kiosks set up on campus when you arrive with your student. It might be wise to set them up with a bank that has a national presence so that they have access to a physical location when they are home and so you can access their bank locally as well if need be.