The Value Of College

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M One possible budget buster is college cost.  Yes, it’s popular to borrow money.  60% of college students do.  But currently, that college degree is worth less than before, unless the major is engineering. 

V We’re not saying never do it.  Just recognize that earning potential may make payback time longer and more dollars paid in interest.  Mom, you know of grandmothers who cosigned the loan because their children’s credit scores are low. Thankfully you did not do that.

M Gifting college tuition money is a great gift, much better than encouraging borrowing. That grandmother owed the money.  Her grandchild dropped out.  Scripture discourages accumulating debt.  Community college, work study, jobs with tuition reimbursement.  There are good choices out there.