Student Loan Debt

There's been a lot of press recently about the rising cost of college.  I've written before about affording college.  With two kids in college, and one a Senior in high school, I've got a few ideas about how to pay for college without anyone going into debt.  I paid my own way through college, so I do have some experience in how this is done. (Bachelor's Degree in 5 years, from Virginia Tech).

But, with all of this focus on money, I think we might be missing the most important part of this conversation:

Does the degree have worth and value?

Will they be able to get a job in this field?

Would you hire someone with this degree?

Honestly, is a degree in Women's Studies that costs $240,000 worth the time and effort?
What kind of a job is someone with this degree going to find?

What about someone who gets a degree in Physics a degree from a University that specializes in Art?

How about a STEM related degree from a private university that charges $40,000 a year or more in tuition?  That's $160,000, if they finish in 4 years.

Public Colleges and Universities, as well as two year Community Colleges are the best values in education.  The key is to work towards a degree in a field that is actually hiring, and that will return some value on your investment.

Can't afford college right away?  The Career and Vo-Tech Programs at your local public high schools prepare students for the work world, giving them hands on experience and job training.  Job placement assistance is available prior to graduation, and many employers will offer tuition assistance to their employees after a period of continuous employment with their company.

Recently, I read about a disturbing trend in college admissions.  Programs that charge $14,000 for a one week intensive seminar on "writing the perfect college essays".  $14,000.  How does that rate against a year at the community college?  Even better, how does that compare to in state tuition at your public universities?

Personally, I think if I have to pay that much money to get my kid to write an essay to get into college, they don't belong in that college.  I've always been of the belief that my kids need to speak for themselves.  They need to be able to express themselves eloquently with the written word.  After all, isn't that what the last 12 years of mandatory K-12 education have been about?  Isn't that why we've been busting our backs, pressuring them to do homework, and encouraging them to do more, and be more? 

Just like everything in life, higher education is a choice.  As our high schoolers start looking a little more closely at colleges this summer, and applying for schools, take a very close look at the value of the program that they are attending.  Will they be able to get a job in that field when they graduate?  Will they be able to get through the program without any debt?  Is the tuition low enough that they can kick in some - or all - of the cost of their tuition and expenses?

It's time to rethink how we look at college.  The most expensive college out there isn't always the best match for your child and their career aspirations.