05-15-2025
The question, “Is college worth the cost?”, has never been more relevant. With tuition rising, student debt ballooning, and the job market evolving rapidly, families and students are left wondering how to make smart choices that set them up for success and not financial stress.
So how do you evaluate the cost of college against the earning potential of your chosen major? Here we’ll explore ways to pay for it and make thoughtful decisions that align with your goals.
The cost of a four-year college education has increased more than 160% over the last 30 years*, while wages for young adults have grown only modestly. This has made it essential to match your degree choice with your future earning potential.
Engineering and Computer Science degrees often pay off quickly. Starting salaries can range from $70,000 to $90,000+, making student loans more manageable.
Social Work, Education, and Fine Arts degrees may start at $30,000 to $45,000, which can be rewarding but may require more intentional financial planning.
Use tools like the College Scorecard or PayScale’s Return on Investment calculator to compare schools and majors by real-world outcomes.
Paying for college doesn’t have to mean taking on massive loans. Here are several strategies to consider:
Grants: Federal Pell Grants, state-based grants, and institutional aid.
Scholarships: Apply early and often! Local organizations, businesses, and niche scholarships often go unclaimed.
529 Plans: Tax-advantaged accounts that grow free of federal taxes if used for qualified education expenses.
Custodial accounts (UGMA/UTMA): Consider tax implications, especially for large balances.
Federal student loans offer income-driven repayment, deferment options, and loan forgiveness programs. These features are not guaranteed with private lenders.
A part-time job can cover textbooks and personal expenses without affecting your studies.
Online tutoring, freelancing, or gig work can provide flexibility and experience.
Before you take on debt or commit to a school, ask yourself:
Do you need a four-year degree to reach them? Trade schools, apprenticeships, or community college may get you there faster and more affordably.
Is your field growing or shrinking? Use data from Bureau of Labor Statistics to evaluate job stability and demand.
In some fields (e.g., law, finance), school reputation carries weight. In others (e.g., tech, skilled trades), skills and experience matter more than your diploma.
Reducing room and board can cut costs by 30-50%, a huge savings over four years.
College can be a valuable investment, but only if it’s approached with eyes wide open. Don’t blindly follow the traditional path. Instead, evaluate the return on your education, explore diverse ways to fund it, and make a decision that’s right for your future.
If you’re a parent, now is the time to sit down with your child and have honest, empowering conversations about college, career paths, and the financial realities behind them. Help them see education as an investment, not just a rite of passage. Encourage them to think critically about what they want from their future—and how to get there without being buried in debt. Your guidance can shape how confidently and wisely they approach these decisions.
Need help making a plan? Whether you’re a student, a parent, or both, navigating college decisions can feel overwhelming, but you don’t have to do it alone. Reach out to us today for help creating a clear, personalized plan that fits your goals and your budget. We’re here to help you make confident, informed choices every step of the way.
Together we get better results than we could on our own