Going off to college is an exciting step toward independence, but it also comes with responsibilities, especially when it comes to legal documents. And parents lose access to their child’s private information once they become adults. For this reason, setting up these documents ahead of time can offer peace of mind. To help you and your family prepare, continue reading for five important documents every college student needs.
Important Documents College Students Need
Securing financial aid and scholarships, buy dorm room essentials and supplies, are just a few of the ways many families prepare their child for college. But it’s easy to forget the fact that becoming an adult also means legal protection of their privacy, even from their own parents.
Should an emergency arise, the loss of access to your child’s medical and educational information can be challenging obstacles that could complicate a delicate situation. This is why you should approach your child’s departure through “what if” lens. With this in mind, these five important documents that every college student needs will help you more easily navigate unforeseen events.
1. FERPA Waiver
The privacy of a student’s education information is protected under the Family Education Rights and Privacy Act (FERPA). But when your child enrolls at a postsecondary institution or turns 18, parents no longer have access to those records. For example, financial aid, transcripts, academic performance, or even disciplinary action.
In some cases, FERPA does allow education information to be released to parents without the student’s consent. But only if the child is still a dependent in the most recent tax year, and the institution chooses to do so.
If parents would like to monitor their child’s academic progress, both parent and child must file a signed FERPA waiver with the school. Generally, these waivers are available through the school’s registrar’s office.
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2. HIPPA Authorization
Similar to FERPA, the Health Insurance Portability and Accountability Act (HIPAA) aims to protect medical records. For example, insurance coverage, prescription history, and patient information. As such, when your child reaches the age of majority, parents lose rights to their child’s health information. Of course, this varies by state, but generally is over age 18. So if your child has mental health issues or seeks medical treatment, you will not be allowed to consult with their doctors about their treatment without their permission.
Also, keep in mind that FERPA protects the healthcare information maintained at campus health centers, as they are considered academic records. But if your child need medical attention off campus, a HIPPA authorization is especially helpful.
However, there are a few caveats to a HIPPA authorization, such as:
- The HIPPA authorization should be for the state where your child is attending college.
- Verify with the school whether they also require an institution-specific HIPPA authorization form.
- Also confirm with your health insurance if they also require HIPPA forms.
3. Revocable Living Trust and/or Will
While all five of the items we list here is crucial, this is one of the most important documents college students need.
It’s unthinkable to contemplate your child’s death, but none of us have control over unforeseen events. So as with all estate planning, preparing for worst-case scenarios can help avoid exacerbating a parent’s nightmare with legal turmoil. Living trusts and wills dictate who legally receives any assets left after someone dies. If your child has investments solely in their name, financial accounts, or a car, they should have at least one of these documents naming their beneficiaries. Additionally, for investment or bank accounts, make sure your child keeps the beneficiary information up to date.
4. Healthcare Proxy
In case of a medical emergency with your child at school, and he or she is unable to make their own healthcare decisions, you may not be able to intervene on they behalf. Here, we’re talking about adult age children. In this regard, a healthcare proxy is similar to a Durable Power of Attorney (POA) because it gives you authority to intervene on your child’s behalf if they’re incapacitated.
While many states have statutory forms available online, it may be worth it to seek an attorney practicing in the state where your child attends school. This is because a state-specific attorney can more easily address healthcare proxy concerns that pertains to that state.
5. Durable Power of Attorney (POA)
While your college-age child may be a legal adult, they may not be ready to manage their own finances. Having a durable POA signed by your child lets you make financial decisions on their behalf. For example, allowing you to handle their bank accounts, tax returns, and credit cards, to name a few. This also helps you take control of finances in an emergency where your child may be injured or incapacitated.
Similar to the POA, it’s wise to consult your attorney when establishing this document to ensure it confers the desired level of authority and satisfies state requirements.
Final Thoughts
All of these important documents that college students need must be voluntarily signed by your adult child in order to be legally binding. Given this point, work together with your child and start the conversation early to address their concerns. In some cases, you will likely need to emphasize their usefulness to avoid your child assuming you’re invading their independence. One of life’s major transitions is sending your child away to college. As such, having a plan in place with these documents can provide peace of mind for you and your child.
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