If you have been following these articles, it will be of little shock that the price for a college education has skyrocketed! We would be hard pressed to find anything else that could compare to this increase. Do you see a leveling or decrease anytime soon? As parents, we need to actively be engaged with our children in planning their college and financial futures. One of my children spent summer vacation moving irrigation pipe in a walnut orchard. One of the more valuable insights for her was that she didn’t like it! I believe that one of the important things she walked away with from the experience was that she needs to have a degree or occupation skill that puts her in demand and therefore allows her to trade her time for a cash flow. The days have past when one could venture out after high school to “find one’s self” in education. Deciding what one wants to be when they grow up from sampling college courses can’t be the norm when paying $25-35,000 per year. Is $100-140,000 for a 4-year degree reasonable? So, an additional $25-35,000 per year is probably more than uncomfortable? I was excited to hear from my 5th grader that she and her class were researching careers and then presenting oral reports. I enjoyed the fact that my 7th grader and peers were researching colleges and presenting in class. This gives me an easy feeling that they are better prepared and therefore better able to plan our investment.
The Pioneer Review printed a checklist a few weeks back (I am indebted to their abilities and formatting; what an improvement on what they received) to help with the journey. Determining where you want to be or what your destination is the 1st step. You will have desires for your children, but ultimately it will be their choice. This should be to create opportunities in their future. College isn’t always the answer right out of high school. Learning a trade is another option. It just might also be necessary to broaden life experiences before taking the road to higher education.
We will pick up in the future. If you have questions, comments, and/or input contact me at Scott@ArensCP.com. ■