Very true. However, I don't see any good reason to spend $20,000/year at a private school in order to get out and make $29,000 IF you can get a job. If you're going into teaching, etc., get the cheapest degree you can get, because it doesn't matter where you went. The small liberal arts colleges are a really poor ROI.
I also became a lawyer as a second (kind of third) career. I left a successful career in teaching when I started spending more time administering tests than actually teaching anything. I am very fulfilled with the work I do now, but I actually made more money as a teacher, on an hourly basis.
“The small liberal arts colleges are a really poor ROI.”
I agree. Bummer, too, because I went to one, and would love for my kids to go to one, if it suited their goals. But if you do not have generous parents and/or a plan for graduating without huge debt, it’s not feasible. It’s too big a load to start out your life with.