Do we need college?
This is a question
that many are asking these days. The cost of college has risen over 1200
percent in the past thirty years, bringing it far out of reach for many
families. Often, families without means struggle to send their
high-achieving students to the best universities despite the sacrifices they
must make, and financial difficulties can often prevent
these students from graduating.
As a teacher, I find
myself in the midst of the reality of this firestorm. I firmly believe
that a college education can set people apart in their career, when done right,
but when students do not consider all the options, they can end up with a
lifetime of crippling debt that cannot be forgiven with bankruptcy. Many experts
feel that the student loan bubble will be the next strain on the nation’s
economy.
This is why it’s so
important for students and families to truly understand the college admissions
process. As with any other major life decision or purchase, colleges and
universities must justify their value to you. You must consider the
return on investment.
All too often,
students bring me letters that seem like honors and awards, but they are really
thinly veiled predatory loans masked in beautiful marketing. It’s college
application season now. I see people prepared to saddle themselves with
fifty to sixty thousand dollars of debt a year if they don’t get aid.
Does that sound like you? That’s the price of a house if you
graduate in four years. The trend today is to take five years or more, and
while high schools collect statistics about graduation rates, getting penalized
if they’re low, colleges do not get punished. In fact, the longer you stay, the
more money they make.
Students are
encouraged to study areas of interest, take semesters off, and go where the
heart leads them. While this is good advice in the realm of learning, it often
leads to heartbreak when choosing an expensive university and a career path
that cannot pay back those loans. At graduation time, students find themselves
in the position of having to chase the dollars to pay back the bank anyway.
I have been thinking
about this a lot lately, as I watch parents and students warm up their pens to
sign huge loans that will become their best friends for years to come. I
wrote a post on my blog called “College or a Ferrari?” because I feel it’s critical for students to
really analyze their college choices once the aid packages are delivered, and
to think about the return on investment for each potential major. Also,
students must commit to maximizing the benefit of college. Sure, you should have
fun, but if you’re not ready to hit the books, consider taking classes at a
local community college, or enlisting in the military--who, by the way, will pay
for your college while you serve your nation. It’s the school of life, and it’s
very effective.
I made a Learnist board dedicated to helping families make these
decisions. You cannot make a decision which has the potential to cost $200,000
based on emotion--you must consider the facts… college can be worth the
investment, but the decision is no different from buying a house or a car. I've recently done both. There were things I would have loved, but they were just
out of reach and not practical for the lifestyle I lead. In the end, I got a
practical car that can handle the potholes my area that will never be fixed,
and a house where I can live simply and get off the grid, like I've always
wanted to do. No mansion. No Ferrari. And I’m just as well off for it.
If you are going to
college next year, do your research, work hard in school, and get your ducks in
a row. And when the mailman comes with all your acceptance letters--and
hopefully your financial aid, don’t forget to really think of colleges that
will serve you for a lifetime, not just four or five years.
About the Author:
I teach Social Studies at the William M.
Davies Career & Technical High School in Rhode Island. My passions include
research, writing, history, sustainability, fitness and social justice. I'd
love to see tech innovations to level the playing field in education. I'm a big
fan of our local farmers, sustainable agriculture, and all things natural and
tasty. I blog and run in my spare time.
