2010.07.09 18:49:37

Patrick OConnor

Don’t Let the College Bubble Burst Yours

Ever since school’s been out, a number of articles are showing up questioning the value of college.  They usually make these points:

1. The cost of college is increasing at a rate faster than inflation.
2. More people are taking out more loans for college.
3. Most people think a four-year college degree will automatically get them a better job, but…
4. Many people who get a four-year degree don’t get a good job, which leaves them with lots of college debts to pay, but no way to pay them—they call this “The College Bubble”, and they worry it may lead people to bankruptcy.

I’ve always agreed with this concern.  College is about making dreams come true, but giving life to a dream is always centered on what you’re willing to give to it *and* what you’re willing to give up for it.

Depending on the dream, that might mean eating more tuna fish and less sushi, waiting for the summer’s blockbuster movies to make their fall debut on DVD, or working a day job so you write the Great American novel at night.  This kind of lifestyle change could last longer than a year or two—just ask the award-winning poets who spent their lives working on the assembly line, or the actors who still wait tables in the winter, until it’s time for summer stock.

What’s the best mix for you?  It’s hard to say.  One promising high school pitcher gave the minor league five years, then went back to college and earned his teaching degree—he was still in great shape, but enough was enough.  On the other hand, a great actor jumped right into teaching after college, then realized she wasn’t ready to give up the dream just yet, so back she went to graduate school.  And then there are the many business workers who made a good living for 20 years, then gave it up to go to cooking school or social work.  They knew they had to have some stability first, and so they deferred their dreams.

As you think about the mix that’s best for you, keep three things in mind:

-         The question “Is College Worth It?” is about something more than money.  Seeing the world, and seeing the world a different way, is just as important as learning a trade.  College can be about all those things.

-         Don’t ignore money completely.  One of these stories I read talks about a student who has $100,000 in college debt and a degree in Religious Studies.  In this case, it may take a miracle to get out of that debt—so if you can’t see a way to make the ideal and the practical work together, talk to someone who can help sort things out.

-         Look long and hard at your options.  One of the key points I always make is that a great student can have a great experience at a good (and less expensive) college.  If you know how to make the most out of high school, you’ll have the skills and life vision to make the most out of any college, and probably the grades for a merit scholarship at an OK college.  At the end of the day, that might be the way to go—for you—or maybe it means no college at all.  That’s great—at least you looked.

College isn’t for everyone, but neither is not going to college—and either way, you aren’t everyone.  Get to know yourself, and your plan will emerge, provided you’re willing to work hard and ask for help.

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