The high cost of sending your kids to college has been something you’ve been talking about for a while, especially if you have a kid in college or about to send your child off to college. And now many of you are wondering if there’s a better way to succeed in life.
A new poll from the Texas Tribune shows that only 28% of you think a college education is necessary to succeed in today’s world, and that 68% said there are many ways to succeed without a degree. Financial planner Richard Rosso says it's something he's been preaching for a while.
“College isn’t what it used to be. The return on your investment based on skyrocketing costs and student loans just isn’t the same,” Rosso told KTRH News.
Especially since the average cost for a private college is over 30 thousand dollars a year. But David Gardner at the Texas Higher Education Coordinating Board says that degree will help you down the road.
“All the data still shows one is more likely to remain employed if one has a college degree,” Gardner said.
But Rosso says recent grads don’t have it easy trying to find their way after they get their degrees.
“A lot of kids can’t get a job and are saddled with student loan debt,” Rosso stated.
But Gardner says trends are changing.
“College graduates are in fact getting jobs. In the last six months we’ve learned there’s a much better job market for them than there was just six months ago,” Gardner explained.
The survey represents a big shift from four years ago, when 42% of you said college was necessary and 56% said there were other ways to succeed in life.
And the cost of college keeps going up. The average cost for a private college was over $30,000 a year. The most expensive college in Texas is SMU $37,000 a year. Rice University here in Houston comes in second at over $36,000.