Unless you are going to college to learn a specific profession (i.e. law, medicine, engineering), it is a total waste of money.
I know a poor sap that raised two daughters and almost went bankrupt sending them to the best colleges, spending well into six figures. After college, they both got married setting him back tens of thousands of dollars more.
One of the daughters got divorced and has moved back into his house with her two kids. He and his wife are pretty much locked into supporting them for years to come, putting their lives on hold. The other daughter did a little better, marrying a man with a decent job, but she never worked either - that college degree a waste of money for her as well.
When my two sons were growing up, people used to always tell me to put away a bunch of money for their college but I never listened to them. No way was I going to spend a small fortune subsidizing their keg parties and slacker lifestyles. My kids were going to have to earn their way into college.
My strategy worked. My youngest son is in his third year of college studying engineering at a state university. So far he has not had to take out any loans, he has paid half the tuition on scholarships and his own savings and pays for his own books with his part time job. My wife and I pick up the other half of the tuition but we pay as we go - after all it's a state college and tuition is reasonable. Also, he lives with us and commutes - no dorm life for him.
My oldest son decided to pursue a career in computer networking so he went to a Technical School instead of a college. He'll soon be making more money than most college grads.
“so he went to a Technical School instead of a college. He’ll soon be making more money than most college grads.”
Same here......
No College degree, but sharp as a tack. Saving hundreds of thousands of lives & making big bucks.
I tell my children they have two choices. (A) They work their own way through higher learning or (B) Mom and Dad move in with them after they graduate, because we won’t be able to afford the tuition fees for five children.