High School seniors who are barely adults have to make some
serious financial decisions. College degrees do not guarantee a happy financial
future. These decisions can burden young people with a mountain of debt. There
are many forces at work urging students to make decisions that will limit their
life options. Things like owning a home, getting married and having children
become hard when all your spare money is used to pay school loans.
When I entered senior year in 1964, life in some ways was
simpler. There was the Draft. But, compared to what students face today it was
easy. Out of 450 graduates in my high school class, only about 50 went to
college. Many of my friends went to work for Automotive. They would say to me
"Why work so hard to get a degree in engineering. We will make more assembling
cars." Things have changed. Many of those jobs no longer exist. Automation
has eliminated them. Automation will eliminate more good jobs in the future.
What you do and where you live is important. If you want to
maintain suburban homes, the Northshore, might be good. If you want to be a TV
producer, NYC would be a better choice. Housing is more expensive than it was
in the middle of the 20th century. What you do and what you can afford becomes
a challenging two sided question. A four year degree might not be necessary to
get your first good job. It is possible to finish in night school while you
work. Living at home may sound awful, but think how you will feel paying for
your "exciting college years" for decades after you graduate.
Education can be very helpful. It does not guarantee
success. Before making life altering financial commitments, think it over. Get
some advice from people who have made both good and bad financial decisions. Everyone
likes a good listener.
Steven A. Levy; (781) 771-2779; stevenlevymath@gmail.com, 26 Sagamore Road, Marblehead, MA.
Home Page: www.stevenlevymath.com (It is a blog! Follow me!)
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