Is college worth the cost?

It’s no secret that college tuition and expenses have been steadily rising for many years. This has many families worried that they will not be able to afford to send their children to college. Many even avoid encouraging their children to dream of a college education. Business skills are almost being imposed on the younger generation. The overwhelming and staggering costs of college are changing the way we raise our children.

Imagine if they told you not to dream. What if you told your parents you wanted to be a doctor and they just had to turn you down? What does this do to a young child’s self-esteem? Many families, college educated or not, struggle to keep up with housing costs and the cost of living in general. Saving for college is simply not in the cards for many more families than many would like to believe. What does this mean for the future of our country?

We have a trend towards generation after generation of workers with minimum wage and poverty levels. What happens then? They can’t afford college for their children and so the cycle continues. If you’ve been worried about paying for your children’s college, then there are a few things to keep in mind.

So, you’re wondering if college is really worth it. View college as an investment. College is not only an investment in your child’s self-esteem and job satisfaction, it’s also an investment in your family and your country. College graduates earn an average of sixty percent more than their peers. This makes a difference in income of almost a million dollars over a lifetime. With all the college scholarships, financial aid, student and parent loans, there’s almost no excuse to deny your child this investment in their future.

You may have to make short-term sacrifices to pay your loan payments, but the effort should be worth it. Students can defer payments until after they graduate. There are even payment plans that are based on income, which means your child won’t have to pay more than he can afford as he gets older. If you’re worried about being responsible for large loan payments between periods of employment, don’t worry too much. Most student loans have deferment periods that can put your payments on hold until you are employed again. The government and loan companies have all kinds of special benefits and payment waivers for student loans.

Our government wants our children to be able to pay for college. We need professionals in our society to function. This does not mean that the rich are the only ones capable of educating themselves and remaining rich. Many loans are based on income, and your child can get all the help he or she needs. If they don’t get as much as you need for actual college costs, then there are parent PLUS loans and private student loans to consider. These are available in addition to Federal Student Loans, scholarships, and financial aid. Don’t drown your child’s dreams. Encourage them to make a better life for themselves, as well as for their children and grandchildren. Choosing to go to college can affect many generations to come, and yes, our families’ futures are worth it.