ST. CROIX INSIGHTS
The Concern About Paying for College
BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
It’s a real worry parents have today, and it’s not surprising, considering college can cost upwards of $100,000 or more. Paying for college has become very worrisome, and we’ve created a system that encourages you to want others to help pay for some or all of your child’s education.
It’s a natural question to ask where a high school graduate is going to college. And if the response is anything but a four-year degree, it seems like, as a society, we look down on them. Not every student is destined for a four-year program, and that’s perfectly okay.
Technical schools can provide the education and skills necessary to obtain many high-paying jobs, such as auto mechanics, HVAC, LPN, RN, plumbers, linemen, etc. I know because I hire many individuals from these fields, as I lack the expertise to perform these tasks myself.
College tuition has gotten out of control and I suspect that will never change in our society.
Here are a few ways to help you plan for paying for college.
- Start setting money aside the day children are born.
- Start at a two-year program if needed and then transfer to a four-year program.
- Explore options at technical colleges.
- Consider not going to college. Many of my most financially successful clients do not have formal educations and instead pursued their passions and worked hard.
- Find an employer who offers tuition reimbursement or on-the-job training.
Today’s youth have more educational options than ever before. If your child’s education is a top priority, you may need to redirect your financial resources to saving for their education.
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