To set limits on children’s college ambitions “is to fail at middle-class parenting." writes Warnick. As a result, student debt has ballooned to $1.6 trillion.The first sentence was presented as a common parental belief, the second its consequence.
The next quote is absolutely true:
“If you want to be an artist and you graduate with a ton of student loan debt, you can’t afford to be an artist, anymore,” I told her, explaining that you become a creatively stymied wage slave instead.Have the talk. Have the "money talk" with your kids. Tell them what you can afford, tell them that they don't have to go to MoneyPit U in order to get a great education. Have them start their adult lives with realistic financial expectations, both for you while they're in school and for them after they graduate.
2 comments:
So much of what has happened to Higher Ed comes down to socioeconomic class and acquiring the markers of the "higher" classes:
The "good" people go to college.
The "good" people go to the best colleges.
The "good" people can get academic degrees that don't matter in the real world. (And often it's not the degree but the college, and who they know, which makes the difference between job or no job.)
The "good" people's kids don't have to pay for their own education, so they can focus more on school.
All these beliefs are part of the student loan crisis, which is really a self-inflicted wound.
One way to really cut college costs is doing the first two years at a community college, knocking out all the general education requirements. Then transfer to University, do all the major-required classes, and graduate two years later. Total cost: Much cheaper.
Post a Comment