Let’s say that your child attends a college that costs $50,000 per year. And let’s suppose he switches majors two-three times and takes an extra two years to get out.
How much extra will this cost?
If you said $100K, think again.
Because you’re forgetting something important: the two years that he could have been working at $40,000 or so per year!
Combine this opportunity cost with the actual dollars you lay out for those two extra years, pretty soon, you’re talking real money!
So it’s important to go into college with a game plan, not only for the next four (hopefully) years, but for the next 40.
Here are some questions you should ask yourself, or your child should ask (you may want to print this and affix it to your kid’s forehead)
* Is my intended major in a field where experts predict growth or decline?
* Am I “wired” correctly to pursue a career in this field?
Here are questions to ask the career center of any college you’re considering:
* Tell me about the folks who majored in my field, who graduated last year – where are they now?
* What about the ones who graduated two years ago? (Note: 46% of college grads still have not found jobs requiring degrees two years after leaving college)
* Which employers recruit on campus?
* Which kids received the most job offers, and what can I do to model their behavior and achieve similar success?
* What’s the biggest mistake college kids make in terms of preparing for the job market, and how do I avoid it?
I could go on and on, but you get the point.
College is a huge investment, which implies that you should receive a RETURN on your investment. These questions should help.
The other element to a strong ROI is to pay the least amount you possibly can.
Class of 2015: today’s the last day of our financial aid forms prep special, prices go up by at least 50 bucks:
Enter the coupon code ‘warrior’ into the shopping cart before the promotion expires.
All other families who have any questions about
* getting into college
* choosing a “best fit” college
* paying for college
* whether it’s OK to sign a sad song with an upbeat tempo (just checking if you’re reading all the way down here 🙂
Best bet is to schedule a free, no-obligations “Mini Strategy Session” with us via conference call. We’re running two-three weeks out:
I hope you found this issue of the College Success for Less Bulletin valuable.
If yes, please forward this to anyone who needs this info, they sure as shootin’ ain’t going to git it from any guidance counselor!
(No, I’m not sure why I lapsed into a southern drawl, peculiar coming from a Jewish guy from Boston.)
They can subscribe here:
– Andy Lockwood