we’re facing a financial crisis—one that hits students and families hard. For many, the dream of a degree becomes a decades-long financial burden. But it doesn’t have to be this way.
Parents and students: the key is to treat college like the investment it is.
Start by looking at cost vs. value, not just rankings. A degree is only worth it if the payoff—meaning future earning potential—exceeds the price tag. That means thinking beyond “dream schools” and asking tough questions about return on investment (ROI). What’s the average starting salary in your chosen field? What are job prospects like post-graduation?
Students: It’s easy to get caught up in campus tours and Instagrammable dorms, but don’t confuse prestige with value. A lower-cost school with strong internships and alumni connections can often lead to better real-world opportunities than a brand-name school that leaves you drowning in debt.
Parents: Guide your student to look at the long game. Consider starting at a community college and transferring after two years. Many students can save tens of thousands of dollars this way—without sacrificing the degree itself.
While they may not always be the first schools people mention, Northeastern, Drexel, Georgia Tech, and Michigan Technological University are standouts when it comes to top-tier internship and co-op programs in their respective fields.
Other smart strategies:
- Apply early and often for scholarships—they’re not just for straight-A students.
- Explore work-study options or part-time jobs that align with future careers.
- Skip the out-of-state tuition unless it’s truly necessary. Many students pay double for a name that doesn’t carry extra value.
Also, talk openly about loans. What does borrowing $20,000 really mean in monthly payments after graduation? Use online loan calculators together. The more you demystify the numbers, the better decisions your student can make.
And finally, define the purpose of college. It’s not just a place to “figure it out.” It’s a launchpad. Choosing a major with strong job prospects, gaining hands-on experience, and developing career clarity early on will all help minimize financial risk.
Debt doesn’t have to be part of your student’s story. With smart planning, clear expectations, and honest conversations, you can rewrite the narrative—and build a future based on freedom, not loans.
Because what good is a degree… if you can’t manage your money?
