No flames here. I think there's no shame in student loans. There are no guarantees, but every study shows that people who have degrees tend to make significantly more money. That's not the only way to measure success of course, but your child will have more doors opened with a degree. My company has started requiring degrees for almost every position, even ones you wouldn't expect. In part, it's because they can insist on it in this economy and they like the flexibility of having everyone be eligible for advanced positions.

Anonymous wrote:"Thanks to hard work, ambition, and a good deal of luck..."

Well, that's your answer. Going to college can cut down on the hope for "a good deal of luck".

Yes, it is important to go to college (debt or not).

You still need luck! Haven't been in the job market recently have you?

Anonymous wrote:What's a good alternative?

Trade schools for some, and for certain IT things just taking courses, teaching yourself.

Anonymous wrote:

Anonymous wrote:I think a college degree is necessary nowadays. Most graduate degrees, however, are a waste of money.

REally? I'd say college is like high school used to be, and in most highly paid or respected jobs, you need a grad degree.

NP. I kind of agree with PP. A grad degree in a competitive field from a great school, sure. A graduate degree in the humanities from a third-tier institution? No.

Major is HIGHLY important if you want to support yourself/find a job.

We have a glut of 'communications, sociology, political science, history, etc majors. You better be top in your school and have connections otherwise you are Barista.

Engineering, IT , nursing, chemistry, etc are employable. Education majors planning to teach at the elementary-HS should do fine.

Anonymous wrote:I think a college degree is necessary nowadays. Most graduate degrees, however, are a waste of money.

REally? I'd say college is like high school used to be, and in most highly paid or respected jobs, you need a grad degree.

What's a good alternative?

I think a college degree is necessary nowadays. Most graduate degrees, however, are a waste of money.

Yes, she should stick with a college education.
Don't let the cost be a deterrent to her going. There are lots of options along the way and at graduation time for repayment (in school job, loan repayment from job, new scholarships every year, etc).

If your daughter is in a private school, encourage her to transfer to a public school. This will save about 50% of the cost. Ensure that she is studying something that she both enjoys and is applicable to today's job market - most Bachelor of Arts degrees are useless. Encourage a Bachelor of Science and many science/engineering-based courses.

It is not a guarantee, but she is much better off with than without it.

If you are concerned about the value, discuss with her which majors have solid earning potential after college. The classic liberal arts degree won't get you very far unless you are a top student and at a top university. Meanwhile a B student with an engineering degree from a decent state school has options.

"Thanks to hard work, ambition, and a good deal of luck..."

Well, that's your answer. Going to college can cut down on the hope for "a good deal of luck".

Yes, it is important to go to college (debt or not).

I feel for you having to make such a tough choice. The cost of college in this country has gotten totally out of hand. I think it will be up to your daughter to make it pay off. Community colleges are becoming the only real way to keep costs down.

It depends on what kind of degree they are getting (most humanities degrees are pointless unless from specific top schools) and what they want to do later in life. I know several people who didn't go to college and who are very successful. I know several people who went to college and are struggling to find steady employment in their field 5 years later.

I don't think it is neither foolish nor wise, I think there are a lot of questions that have to be answered first before judgment can be made.

My husband and I each grew up in poverty, in a family where no one had attended college and blue collar jobs were the norm. Thanks to hard work, ambition, and a good deal of luck, we were able to end up middle class with decent white collar careers. Our HHI is comfortable, but we never really earned enough to save a college fund for our daughter. However, we were determined that somehow we would make college happen for her if that's what she wanted. We've always read voraciously and valued higher education, and we have tried to pass those values on to her.

She is 19 now and a freshman in college. Aside from some small scholarships, the bulk of her tuition has been paid via loans. She will graduate in debt, but with a degree. We plan to help pay off those loans to the best of our ability, but sometimes it scares us that the amount owed is going to be sky high -- between our daughter and us, it will take years.

So my question for you all is, do you really believe that a college degree is that important in today's American culture? So often I read opinions to the contrary -- that graduating with a mountain of debt is foolish and that if you have to take out loans to attend college you shouldn't bother wasting your time. Thoughts, please?

(Please don't flame me... we were never taught money management skills and I'm sure we have made mistakes over the years that led to us having to take out student loans, but we have done the best we could and are very proud that she is going to be a first generation college graduate; in fact, one of the scholarships was for just that reason but it came nowhere near close to paying the full tuition bill.)