Setting Our Kids Up for Success: Monica Felton on Future-Proofing Families

Amber Stitt
Jul 20
3 min read

Pathways to College Planning: Empowering Families for Financial Freedom

Reflections from Monica Felton’s Leadership and Guidance on Pathways with Amber Stitt

Planning for college is often one of the most daunting financial challenges families face, yet as Monica Felton, guest on the Pathways podcast with Amber Stitt, passionately advocates, it’s never too early—or too late—to start. Drawing from 15 years of experience guiding parents through the process, Monica shares lessons, realities, and leadership principles that every family can learn from.

The Best Time to Start Is… Now

Monica’s signature phrase—“The best time to start planning for college was in the womb. And the next best time is today.”—encapsulates the importance of early action. Parents are naturally focused on raising their children day-to-day, often overlooking the looming future costs of higher education. The truth, as Monica states, is that life happens—time passes, and the goal of sending a child to college can suddenly feel overwhelming both emotionally and financially.

Finding Her Path and Purpose

After nearly two decades in corporate America, Monica pivoted to the financial services industry, driven by the desire to help families plan smartly for their children’s futures without sacrificing their own financial security. For Monica, the focus isn’t on money itself, but on what money can empower families to do. This perspective allows her to coach clients not just on saving dollars, but on realizing their aspirations.

This career change was also rooted in Monica’s own role as a mother. She wanted a profession that gave her flexibility and allowed her to truly lead by example for her daughters. As Amber Stitt emphasizes on the show, modeling leadership through such personal pivots deeply impacts the legacies we build for our children.

Why College Planning Matters—And When to Start

When Monica asks clients what keeps them up at night financially, the answer is almost always, “How will I afford to pay for college?” Over the last 15 years, these worries have only intensified as college costs have tripled. Yet despite this, Monica notes that most parents still only start seriously thinking about college expenses around the ninth grade, when their children reach high school.

Ideally, families should begin building funds and “competence” in financial planning much earlier. Monica encourages parents to see these resources not just for college, but for whatever future their child dreams of—be it higher education, a trade, or another path altogether.

Awareness, Openness, and Honest Conversations

One crucial piece of leadership Monica highlights is fostering open, honest dialogue within families. She encourages parents to have real discussions with their children about their goals, the true costs of college, and what is actually feasible for their family. This, she explains, is the heart of leadership at home: having those hard, sometimes uncomfortable conversations so kids are never shocked or disappointed down the line.

Children also benefit from hearing about money matters and planning from a young age. Involving them in the process gives them agency and a sense of responsibility. If a student excels academically, they may contribute through scholarships. If not, other options—such as gap years or pursuing technical training—should be openly discussed.

The Numbers: Understanding What College Really Costs

Monica doesn’t sugarcoat the reality. In-state schools can cost upwards of $32,500 a year, while elite institutions may run $90,000 annually. Even with scholarships or financial aid, most families are expected to shoulder a significant portion of expenses. Recent changes to the FAFSA mean middle-class families, especially those with multiple children in college, may have to dig even deeper.

The key, Monica says, is to understand what your family is expected to pay—and start reverse-engineering your plan around that figure. It’s not just about having savings, but about having the conversations and the information that lead to empowered decisions.

Take Action—Start Your Family’s Pathway Today

Monica Felton’s advice is clear: start now, be honest, and involve the whole family in the journey. With clarity and leadership, families can navigate the financial realities of higher education and set their children up for success—on whatever path they choose.