Monday, December 15, 2014

ROI- College Education

Indiana University

Yes, I went to Indiana University.  It is a beautiful and fun place to go to school.  During these years, I learned a ton about growing up, accounting, dealing with others and made some amazing life long friends.  Both Judy and I wanted this experience for our kids.  Thankfully we had the means, as did my father, of providing this education to my kids.  It didn't bankrupt my dad and it didn't bankrupt me.

But things have changed. 

Over these past years, the cost of education has continued to grow.  Now, it is feasible that a student would graduate with $100-200,000 in student loans.

Many kids have got to consider what they plan to do with this investment that they have to make in themselves.  Are they planning on becoming a teacher?  Do they want to do social work?  These are great careers and will provide great tangible and intangible rewards.  But will they be able to pay off these student loans?

Today, there are so many other ways for kids to get a degree (which I still think is important for many people) that are FAR cheaper than that traditional college step.  There are many on-line universities today that provide a high quality education.  And they do it at a fraction of the cost. 

I know that means not having the same experience as their parents and maybe their friends are having.  But in 10 years, while they are debt free and have purchased there first house... that friend is still not able to finish the loan repayment.  Much less consider buying a house!

Consider experiences to round out that education.  Take a year and go to China to teach English.  Go to Alaska and work on the fishing boats. 

As Apple says, Think Different!