College Advice for Parents and Students: Is College Worth It?

Is College Worth It?  College Advice for Parents and Students   It’s a question that keeps coming up, in the face of rising college costs and a student loan debt of over $1 trillion in the U.S., $30,000 and up for most college graduates.  Is college worth it?  It is a huge investment in your child's future.  My college advice is to protect your college investment before, during and after college.   

We’ve all heard it before.  So many college graduates still looking for a job; those settling for jobs that have nothing to do with what they’ve studied; and those, who are earning only slightly more than minimum wages – who probably didn’t even need a college degree.   

The Federal Reserve Bank of New York says definitely yes – college is worth it.  In a report released in June this year, the Fed said that over the course of their working lives, college graduates are bound to recoup all the money they spend getting their degree, and much more.   

From the report:  Over the past four decades, those with bachelor’s degree have tended to earn 56% more than high school graduates while those with an associate’s degree have tended to earn 21% more than high school graduates.   
What does that mean in real numbers, if you don’t deduct the cost of college?  In their lifetime, college graduates are likely to earn about $1 million more than high school grads, according to the Fed.  Those with an associate degree earn about $325,000 more.   

According to Wells Fargo, 31% of millennials regret paying for college instead of trying to get a job out of high school.  The new report from New York Fed may be reassuring.   

In my view, there’s a really important way to make sure college is worth it.  My college advice is that students need to focus on who they are, what they can bring to the table, and what makes them different.  This has multiple benefits.  For one, these students are more likely to graduate on time, and not incur the added expenses of extra time in college.  Perhaps more important, their self-knowledge will help land them a job that is aligned with what they’ve studied and what they really want to do in their careers.  It’s a no-brainer!   

For more information on how to make sure college is worth it, go to www.onetruezone.com/programs">http://www.onetruezone.com/programs.">www.onetruezone.com/programs. We’ve got lots of information online, including an introductory offer to the Own Your Zone Career Discovery Academy.  Sign-up right now and take advantage of the limited time opportunity to have a free Skype session with Helene Naftali.  Visit our website or give us a call at 201-337-2409.