Recently, Shawn wrote an article for Fortune Watch entitled "Should Cost Be a Factor When Selecting a College." I was glad to finally see such a pragmatic perspective. This is because the facts are undeniable: even in an uncertain economic climate, we've placed an inordinate value on getting into the "right" college. And if your child has any academic aptitude, then the "right" college invariably means an exorbitantly priced one.
Are The Rankings Fixed?
Many parents today will read and no doubt take seriously the so-called authority on the subject of college selection--the annual U.S. News and World Report college rankings. I implore all parents to put this publication out of their minds immediately. Although the rankings use some sort of criteria, a mumbo jumbo of numbers and equations that, as it so happens, allows for the most expensive universities to come out on top, it does not follow that these "top schools" are somehow substantively better.
I need only point out the handful of people who "made it big", whether we consider financial, intellectual, or public merit, who did not complete a degree at an expensive, private university. Bill Gates: Harvard dropout. Warren Buffett: Started out at the more prestigious University of Pennsylvania University of Delaware Ball State University
An Infinitely Better Approach
As active, informed consumers, I propose a wholly different criteria for college selection. The first factor that should be taken into account, as with almost every major purchasing decision, is cost. Ask yourself: Which school is most worth money? Which can I reasonably afford? Then, potential students and parents should embark on serious research to determine which school has the best, most knowledgeable professors in the specific field of study that interests your child. Third, location and general learning environment is important, too, because a student cannot successfully study if she is not pleased with her surroundings. All other considerations--like prestige, student population, etc.--should be secondary.
Of course, expensive universities often have great facilities, resources, and the potential for more post-grad employment connections. However, unless your child has serious aspirations for the Presidency of the United States
So don't needlessly strap yourself or your child with mountains of debt because after all, student debt can be far more of a career success hindrance than receiving a degree from a "second-rate" state university.
This guest post is contributed by Lauren Bailey, who writes on the topics of online colleges. She welcomes your comments at her email Id: blauren99@gmail.com.
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Questions For The Reader
Can there be a student without a loan today?
Have student loans been a hindrance to you?
Should Cost Be a Factor When Selecting a College?
Originally titled: Fetishizing a College Education: An Inexplicably Accepted Form of Living Beyond One's Means
