College Out Of High School is a Waste of Money

[PrincessPerky]

Then why not do away with school altogether? Everyone will save a lot of money that way, and kids won't have anything distracting them from figuring out what they're good at and what they want to do when they're older.

Excellent suggestion!

I know I do not plan on allowing schooling to get in the way of my child's education (quote paraphrased from Mark Twain)

[Snave]

I am still on the side of going to college out of high school (for most people). I will throw this out there, however. I have a little one that is 2. We are planning on paying for college. We are currently saving in a 529. However, I did the math and if we have around $200,000 when it is time to for him to go to school (2024) and were to just invest that $200,000 from the time he was 18 to 65 (47 years) instead, it would be worth over $15 million. I know inflation will eat in to that, etc.. etc... but that is still a big chunk of change. I can fund his college, or fund his retirement?! With so many people saving so little for retirement, the latter would probably be better!

[disneysteve]

were to just invest that $200,000 from the time he was 18 to 65 (47 years) instead, it would be worth over $15 million.

Actually, if you could average 10%/year, you'd end up with over $21.5 million.

[Snave]

I know - which is what I am always shooting for, but plugged in a lower rate to be safe and get the 15 million. 21.5 million made it even worse to think about!

[Dixiechick]

I don't think it's a broad generalization to say that most high school students don't know what they want to do and would be better served finding out what that is before committing to spend a lot of money.

I also never said I am against college. I'm against people going to college for the sake of that is what they are supposed to do rather than to spend some time to figure it out before wasting money.

Considering the majority of the first 2 years at college fall under general education requirements, I don't think going straight out of HS is a waste even if the kids haven't decided a major. They are exposed to many subjects and free guidance counselor services that they may not get in a minimum wage job (especially right out of HS). Besides, in order for my kids to continue to receive health care coverage, they must be full time students in college. I couldn't imagine the amount of money we'd owe the doctors or hospitals if she wasn't a full time student. She's had some tough luck in the past couple of years with 2 surgeries and 1 more to go... Being in school is never a waste - something is always learned. And the debt factor is partially by choice (community college vs 4-yr vs state vs private vs in-state vs out-of-state, and the degree chosen). I believe there are more advantages than disadvantages in starting straight out of high school.

Sure, if we could do it all over again, we'd all like to think we'd want to explore a couple of years before school. But I doubt we'd all be in better shape than we are today if we did. I KNOW I wouldn't be.

[disneysteve]

free guidance counselor services

I'm not so sure those services qualify as "free" so much as included with tuition.

Sure, if we could do it all over again, we'd all like to think we'd want to explore a couple of years before school.

Nope. Not all of us. I was ready and raring to go when I finished high school and started college. No way would I have wanted to spend another year living at home delaying my entry into college and adulthood. I'm baffled by the trend today of adult children living at home later and later in life. I don't know why these kids don't have the same desire to be independent that I and my peers had.

[JBinKC]

I think it depends upon the major (if it requires direct hands on) and to some extent the timing of receiving the degree but I do see Trex's point. Lots of white collar type of jobs can easily be outsourced.

[myrdale]

I absolutely disagree with the poster. There are alot of folks who don't know what they want to do in life, or next semister and change majors 2 or 3 times. A BIG part of going to college is figuring out what you want to do. However, you shouldn't graduate high school absolutely clueless about what you would like to do. Consider this, out of my class of problem 50 chem. engineers freshman year, I think 40 or so of us graduated from the chem eng. program. I think only 2 dropped out of college, the others changed majors. That's about as tough as it comes, and a majority of the people stuck it out.

Now, I also have a friend who was a 3rd year freshman because all he did was party. Since then he dropped out and joined the Coast Guard and is doing very well. Would it have been "best" if he served first then went to college, probably. Would have gotten to do all the things he did while he was there later? No.

College is an experience. You study, you party, you make life long friends, you study some more, you throw up all over some guys porch, and some where inbetween all of that you find yourself. As for college, you had better grab ahold of it and run with it while you have the chance!!

[tripods68]

After HS I didn't know what I wanted to do. So I joined the Navy for a few years until I figured what I wanted do in life. Joining the military was the best OJT training experience I've ever had. Plus traveling around the world and visiting 25 countries was eye popping experience to say the least. After serving which helped me be more matured, I went straight to college and studied in Finance. But I wouldn't figured out what I wanted to do in life had I not joined. So I would agree somewhat on the original thread, but completely reject the idea that it's a complete waste of time. Expensive sure! But that's how people learn from experience.

[Seeker]

Nope. Not all of us. I was ready and raring to go when I finished high school and started college. No way would I have wanted to spend another year living at home delaying my entry into college and adulthood. I'm baffled by the trend today of adult children living at home later and later in life. I don't know why these kids don't have the same desire to be independent that I and my peers had.

I think this is more because of the cost of living side of things. When I got out of HS there's no way that I could have paid today's prices on a room in an apartment with today's a minimum wage job. The cost-of-living now is just too much for these HS grads; and no job can support living away unless it's better than a minimum wage job.

I think today's HS grads have a much taller financial wall to get themselves over than I did when I was their age. It was better when we were younger, cuz the cost of living was not that high a hurdle, minimum wages were within the ability to also pay for a one room apt and put ourselves through school too. Not so today.

So Steve, I think it's not so much that today's generation does not "have the same desire to be independent" -- I think they do have this desire; but I think they have problems seeing themselves being able to survive and get ahead financially with leaving home and thus "living-on-the-edge" and making their lives better through college and career and paying for everything financially as well.

[trex]

Welcome trex. Quite the entrance, coming in swinging. In some places, that may be pegged for trolling... and there's no need for that here, is there?

This is all I wanted to say. I prefer not to feed the trolls.

You're saying that expressing an opinion about finances is trolling just because I happen not to have been here a long time? Does that mean that I need a blessing from the powers that be to express my opinion?

That is exactly what is wrong with finances. People not willing to express different views or willing to defend them to learn more.

Yes, I have strong opinions on money issues from a lot of life experience. As has been shown in this thread, I'm not the only one that holds this opinion. I see the overall discussion as a positive thing and learn from how others respond. I assumed that this was financial education, not trolling.

If that is being a troll, then maybe I underestimated this forum.

[disneysteve]

I think this is more because of the cost of living side of things. When I got out of HS there's no way that I could have paid today's prices on a room in an apartment with today's a minimum wage job.

So Steve, I think it's not so much that today's generation does not "have the same desire to be independent" -- I think they do have this desire; but I think they have problems seeing themselves being able to survive and get ahead financially with leaving home and thus "living-on-the-edge" and making their lives better through college and career and paying for everything financially as well.

I wasn't referring to HS grads. I was referring to College grads, who, presumably, will enter a better-than-minimum wage job upon graduation. There are losts of mid and late 20-somethings returning home to mom and dad after getting their degrees.

Is cost of living an issue? Maybe. So get a roommate or 2 or 3. Get a 2nd job. Make your way in life on your own power. Be an adult. That's life.

I think a lot more of the problem is that people want to graduate right into the lifestyle that their parents enjoy now only after working up to that lifestyle for 20 or more years. They don't want to start out like their parents did at the same age. My first apartment was a roach-infested 1-room apartment. I slept on a sofa bed for 2 years. Was it where I really wanted to be? Of course not. But it was what I could afford at the time in the area I needed to be.

I have a friend who is 20 or 21. She is out on her own with no parental support. We hardly ever see her, but did see her this past weekend. She basically works day and night to pay her rent and bills. She doesn't like doing it but that's what she needs to be doing right now to get by.

I have another friend who is a senior in high school. She will be going to college in the fall and has decided to stay at home and commute. Why? Is it because she and her family can't afford room and board? Nope. It is because (by her own admission) she is a "princess" and doesn't want to share a dorm room with another person. What do you think will happen to her after college? How likely is it that she'll be in any hurry to leave the nest and fly?

We all want a better life for our kids, but I think we sometimes do them a disservice in the process. We all need to learn to make our own way in life, not be babied well into adulthood.

[InDebtInDC]

You're saying that expressing an opinion about finances is trolling just because I happen not to have been here a long time? Does that mean that I need a blessing from the powers that be to express my opinion?

Yes, you in a way do need the approvals of others before asserting your views.

You are like the neighbor who just moved into the neighborhood and then start stirring up stuff without really understanding the innerworking of those around you.

Most agree with what you say. Some don't. Others just don't care or know the difference. You need to start figuring who's who before you start firing away.

That is exactly what is wrong with finances. People not willing to express different views or willing to defend them to learn more.

There is debating, and then there is being confrontational. Which one do you want to do?

Yes, I have strong opinions on money issues from a lot of life experience. As has been shown in this thread, I'm not the only one that holds this opinion. I see the overall discussion as a positive thing and learn from how others respond. I assumed that this was financial education, not trolling.

Does that discount my life experience, or anybody else's life experience? Does your conclusions gleaned from your personal experience make your conclusions the corrects ones universally applicable to everybody and every situation?

If that is being a troll, then maybe I underestimated this forum.

There's no need for that kind of talk. Let's all just be above it.

[mom-from-missouri]

I've have seen both sides of this issue. In my opinion, I have seen kids graduate from high school that have the maturity of a jr high student. Then, I have seen the opposite. Some are ready, some are not. If one is truely not ready, then its a waste. Those who are not ready tend to sleep thru class and not go, or party and flunk out. They lack the get up and go. My cousin was like that. He flunked out, so took 2 years off and worked. Went back to school and got a degree in safety. Years later went back again and is now a physician in his late 50's and a very good one at that. One of my step daughters, is getting 2 four year degrees in 3 years after getting an early out from highschool. She is a go getter type of person-yet her twin sister has never attended a day of college yet.
Different people have different clocks in them.

[Joan.of.the.Arch]

Usually when you ask somebody in college why they are there, they'll tell you it's to get an education. The truth of it is, they are there to get the degree so that they can get ahead in the rat race. Too many college radicals are two-timing punks. The only reason you should be in college is to destroy it.
--Abbie Hoffman, Steal this Book