Conversation With a Billionaire

College Success Bulletin

Dear Subscriber:

This weekend, I ran into the only billionaire that I know, sadly. 

Barry is the father of one of Pearl’s high school friends.  He was attending his grandson’s play, which my kids were in also. 

We chit-chatted before “curtain” about several things and then he turned to the topic of my cute, paltry business.

I just don’t understand how parents justify spending $250,000 on their kids’ college education.  It’s crazy – it’s not worth it!

Of course I agreed, although that sum is a rounding error for him.

I asked Barry where he went to college.

He graduated from City College, when tuition was zero.  And he endured a big controversy when they raised it to $50!  Barry later earned post-graduate degrees from other institutions, including NYU and M.I.T., before founding several technology companies and becoming a full-time investor.

He mentioned a recent meeting with two other prominent businessmen, one a famous software entrepreneur and owner of a local professional sports team, the other a similarly successful businessman. 

We figured out that we had all been at City College at the same time!  he chuckled.

I said that didn’t surprise me, because, on any given list of Fortune 100 CEO’s, about 33% attended elite, “pedigreed” colleges and the balance went to other schools, or didn’t go at all!  

I asked him if things were different today, since he had sent his own son to an Ivy League college.

When we’re hiring, we care about where they finish, not where they start, he said, which I’ve heard from countless doctors and lawyers as well.  He felt his son went to the wrong school and felt that schools like Baruch and Queens college, etc. were great options for many families, still, and send many graduates to top jobs and graduate schools.

He nodded when I said it’s easy to choose colleges based on what their peers suggest, and said that many kids  – and parents – were foolish to overlook other options.

People like Barry, who rub elbows with some of the most successful people on the planet, understand that there’s life outside of the “bubble.”  

And that going to a “brand” school doesn’t guarantee ANYTHING.

When will you?

Your Correspondent,

– Andy Lockwood

P.S. ATTENTION – Non-Billionaires:  I’m still running a special on my FAFSA walk-through webinar.  Watch it if you want to see exactly where the m.oney-losing landmines lurk, and where the financial aid eligibility-boosting opportunities are hidden.

Andrew Lockwood, J.D.
Lockwood College Consulting
497 South Oyster Bay Road
Plainview, New York 11803