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College and University Discussion
Reply to "Cashing out home equity to pay for college"
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[quote=Anonymous][quote=Anonymous]. I have always been a single mom with no college degree and she is an only. Is this what families do to make college a reality for their kids? Which undergraduate degree/ field of study is worth this type of investment? I would hate to sink all my money and access to money into a degree only to have her come out and get a $40k annual salary job where she needs to work for 6 years before she can reach something better paying. How do families guard against that?[/quote] Good rule of thumb is not to take out any more in debt altogether, than your child can expect to earn her first year on the job with the degree she earns. If her degree doesn't prepare her realistically for any kind of a paying job, that means NO DEBT. What are her interests? I mean, if she wants to study cybersecurity she can pretty much be guaranteed of a decent salary right out of the gate. And there is money available for scholarships: https://aces.umd.edu/sfs [/quote]
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