For years my wife and I have dutifully put money into our kids’s 529 college savings accounts. Our assumptions, of course, are that (a) a college education is valuable, (b) everyone needs one, and (c) it costs a lot of money to get a college-level education.
But what if those assumptions are flawed?
I’m not quite ready to throw in the towel on college or the 529s yet, but it is hard to ignore the mounting criticism of higher education that has emerged over the past several years. While college graduates still tend to do much better economically than non-graduates, it seems clear enough at this point that a college degree is no guarantee of either initial or ongoing employment.
Perhaps more importantly, college is far from a guaranteed way of finding the right path in life, and it’s an awfully expensive way to try. For a lot of people – maybe most – it makes sense to wait, or possibly to never go to college at all. In my opinion, that’s one of the key points Blake Boles makes in the video above, and it’s one that clearly inspires his book Better Than College: How to Build a Successful Life Without a Four-Year Degree.
Enjoy, and when you have a minute, let me know what you think. Is college still worth the investment? Are you socking away money for your own higher education or for your kids? Are you worried about whether it will be worth it? What else could you do with $20K?