I am cheap, thus I have cheap gear, mostly. While professional equipment is desirable, especially for a professional, many of us get by with regular consumer-grade gear.
I'm just a hobbyist, and I have not-so-good hearing, so I manage with a pair of ordinary stereo speakers (Athena Audition AS-B1-1). For speakers that are better than the computer speakers, check out the yard sales in your area. You can probably pick up a set for just a few bucks.
But, if you can afford excellent, go for it.

Thanks Greg, as much as I would like to go the yard sale & thrift shop route (where I like to do most of my shopping, and looked first) My daughters wanted to go halfsies with me to get true monitor speakers, so we bought the Alesis Elevate 3 Studio Monitors ($59 with free shipping at Musician's Friend) Hopefully we'll be up & running in no time:-) It looks like they are only 1 way & my interface has both in/out. Do you know what difference that makes only hooking up to the output? (I believe that's which jack I would use)

 
'looks like they are only 1 way & my interface has both in/out. Do you know what difference that makes only hooking up to the output? (I believe that's which jack I would use)'
 
 Why would a speaker return to your interface? 
 
Your guitars , keyboards and mikes go to the input
 
Your speakers are attached to the output. 
 

 
So looking at your new equipment, You will need a special cable to hook the speakers up to your interface. 
You were mentioning some scary thing about making cables,,, don't do it. Order them.
You will need a pair of 1/4" TS to RCA audio cables.
http://www.musiciansfriend.com/accessories/live-wire-rca-1-4-dual-patch-cable
 
http://www.musiciansfriend.com/accessories/live-wire-1-4--rca-dual-patch-cable
 
 
 

LOL, yes, I had thought to go the super cheap route & splice them, that was only if I was going to go with home stereo type speakers from the thrift shop. I thought better, because I don't really know where they came from originally & didn't want to deal with splicing the wires. I have plenty of RCA cables & speaker wires on hand, but I've learned over the years, sometimes it's just smarter & more convenient to shell out cash for things, hence, why we decided on a monitor that already had the proper hook-ups on it, rather than thrift shopped bare wire home speakers. 
 
And you're correct, I was thinking the L/R Main on the back said In/Out. I was wondering the same thing, "why would the speakers be coming IN" which is why I asked. I've got a RCA to 1/4" cord, but not dual 1/4", so thank you, I will put that on my list. Thanks for setting me straight:-)
 

Ahh, I see you were looking at the MIDI port label.. The Line output is a little poorly marked, "Main" really doesn't say much to most people, "Output " would be a better choice. But then again, English is a second language to the folks who build this stuff. 
 
Yes one RCA to 1/4" will only give you sound from one speaker. 

Buy them a complete new rig. Get them into it young, then they'll be making hits by age 20!
 
M Audio Axiom 61 2nd Generation MIDI Controller Keyboard
http://www.americanmusical.com/Item--i-MII-AXIOM61II-LIST
 
Don't worry about the tech stuff, buy the instructional videos for them. Kids catch on to the computer stuff a lot easier than us! Study music theory, lyric writing and melody writing, that's where the skill is. www.songmd.com Any body can make "beats!"