'Follow your dreams', 'You can do anything you put your mind to', 'Do what you love'. This is the kind of shortsighted tripe that parents and school guidance counselors have been spewing for years, mostly because they find it difficult to explain real world facts to children.1 Facts like 'You may not be able to find a job immediately upon graduating from high school/college', 'The field you are interested in now may not even exist by the time you have finished your training',2 and my personal favorite 'You might have to work a job you hate for many years to support yourself and your family'.
We've all heard it: 'Get a degree so that you wont be flipping burgers at 40', and to a certain extent that is sound advice. Unfortunately however, this advice is seldom accompanied by any direction pertaining to which field one should enter. By the end of high school everyone knows how they want to spend the rest of your life, Right? Figuring out what you will spend the rest of your life doing should not be an easy one. It will, if you have any common sense, require a lot of research, as deciding anything important always does. This may sound like I'm trying to dissuade anyone from getting a college degree, that could not be farther from the truth. I'm telling you don't be stupid when choosing where to spend the next 4-8 years of your life. Remember: there are many different degrees and ways to achieve them. Which brings us to the subject of community college.
These days attending community college has a negative connotation, I would love to hear why this is. Community colleges offer a wide range of services at extremely reasonable rates, including Associates degrees, job placement, and college transfer credits.
Lets say, for example, you would like a 4 year degree.
You could start off at a community college. Spend your first 2 years working towards your college transfer credits(or an associates degree), then transfer to a 4 year university. You will still receive your chosen degree, but at a fraction of the overall cost;3 thereby minimizing your indebtedness.
But maybe you want the "real college experience". Well, its going to cost you. At the rate of $8,244 per year for in-state(full time) and $12,526 for out-of-state, you are looking at $32,976 and $50,104 respecively over your college career.4
Lets go the other route. You decide to attend a private university. On average you will spend $28,500 per year in tuition,4 and thats just if you are in state. By the time you graduate you will owe over one hundred thousand dollars.
In all 3 of these scenarios you will not be guaranteed employment. You wont be a doctor, lawyer, dentist, scientist, astronaut or anything else your parents said you could be.
Meanwhile if you actually find a job, your salary will be around $27,000 a year.5 How much debt do you want to have when you graduate? Was that out of state private school degree worth it?
Many employers use a college degree to weed out unqualified applicants. However, a lesser degree with equivalent experience has a two-fold advantage. By allowing an under-qualified employee to fill a higher position, the company can offer a lower salary, while the candidate receives gainful employment. Too bad this only works if the company incentivizes training the new employee to the advertised skill level.
Maybe we should be telling children that nothing is guaranteed, especially not this nebulous idea of the 'America Dream'. Most of us alive in the U.S. today have enjoyed an unparalleled period of prosperity, and perhaps because of this we have become lax in the 'critical thinking' department.
God forbid an individual take on a reasonable amount of student loans(which cannot be defaulted on),6 under the expectation of a receiving a reasonable wage.
Personal responsibly anyone?
