What advice would you give to entering college freshman?
A few years ago, my brother came to me for advice. He was a few credits short of earning his college degree, and he felt a little cheated.
Most of us know the statistics about the economic benefits of college. As a general rule, we understand that your level of education correlates with your wealth and annual income—at least that’s what we’re told.
Statistical data links wealth, health, and happiness to post-secondary education completion.
With a college degree the world is our oyster! Right? Am I right?
If I could relive the conversation with my brother all over again, here’s what I might have told him instead. Here’s what I think you should know about making sure your college experience is valuable. Continue reading “8 Ways To Make Sure Your College Degree Is Valuable”
We need to have a conversation about student loan debt.
What does the future hold for student loan debt?
In October my niece will turn 8 years old.
In February my nephew will turn 4.
Like most great aunts, I’ve been researching pros and cons of custodial accounts, investment accounts, and 529 college savings plans for them.
In 2028 when my niece is 18, it will cost $31,747 per year to attend a 4-year public (in-state) university. In four years, this will total $134,812 dollars.
In 2033 when my nephew is 18, it will cost $38,625 per year to attend a 4-year public (in-state) university. In four years, this will total $164,019 dollars.
According to Debt.org the cost of tuition at public universities has risen more than 344% since 1980. Tuition at private colleges has increased by 241% since that time.
For comparison, the costs of food and electricity have risen about 150% and gas prices have increased by 200% in the same time period.
On average, 70% of students graduating in 2017 finish college with approximately $38,000 in student loan debt.
Continue reading “What does the future hold for student loan debt?”