Everything You've Read Is Wrong

I worked in the media for over a decade, so I feel I can reasonably accuse the media of sometimes over-exaggerating an issue to massive proportions. I'm not suggesting that the media is maniacal. It's just ratings-hungry.

The obvious statement besides the point, I am amused by the myths circulating about the college dilemma. Students applying to multiple universities and receiving rejection letters left and right. Parents taking out second mortgages to pay for exorbitant loans on their child's behalf to pay for an education that costs upwards of $30,000 a year. Families pouring over lists published by magazine and internet companies touting the best university for this major or that program. Is there some validity to these concerns? Maybe. But it doesn't have to be this way.

Here's the truth. Yes, your child will be admitted to college. Yes, you will be able to afford your child's tuition. No, your child will be promised a job after graduation regardless if he graduated from Harvard or State U.

Here are a few things to consider in the great college hunt:

1) Choose an institution for its academic program. Many people choose a school for its athletic program,
on-campus perks, or partying reputation. This should never govern a life-altering decision. If the institution has your child's area of interest and its mission is consistent to your child's goals, add it to the list.

2) Never underestimate a state university or community college. Local colleges are cheaper than out-of-state
or private colleges. Go where the money is. If you have money set aside or a scholarship waiting in the
wings, you have more leeway than most. People who graduate from local colleges find jobs just as easily as     students from other types of institutions but with less debt.

3) Never take out a personal loan for your child's education. Again, more expensive is not necessarily better. Refer to point 2. If you need to use your house as collateral, the tuition is too high. Plus, private loans do
not offer the same backing or protection as federal loans. I encourage parents to make students responsible for their own debt and financial obligations. They are adults after all. If they pay, there is a greater chance they will stay. There are consequences to their actions. Encourage them to find scholarships. Self-efficacy, the student's confidence to independently complete tasks, is a vital factor in collegiate success (but that's another blog for another day). There is greater chance at success the less parents are involved. This doesn't mean you can't bestow financial benevolence upon your children, but do so reasonably.

4) The student who has the greatest chance of finding employment after graduation is the student who networks, leads, and builds his or her resume. Going to class and turning in assignments is not enough.
Also, encourage your child to pursue a degree in an area that actually produces jobs. There is nothing worse than an English major who doesn't want to teach school or a philosophy major who doesn't want to go to graduate school. One can pursue those interests in the privacy of one's own home without paying
thousands of dollars a semester (declaring these interests as a minor can also get the urge out of their
system). Although engineering, computer science, and medicine are admirable and lucrative careers, if your
child consistently struggles with math and science, you may end up paying for a philosophy degree that
took eight years to complete (if your child doesn't drop out due to frustration first).   

There is a college for everyone. Don't worry. Most importantly, discuss goals, interests, and long-term plans regularly with your child. Above all else, ignore the panic-inducing headlines.