Should I pay for “any” college?

Let me add a few parameters to the question.

I will assume most anyone reading this article lives in suburban Connecticut or some similar location.  While there are a lot of really wealthy parents in this area, I’ll further assume I’m addressing an audience that has concerns about how to pay for college.

The dilemma here usually involves paying for a private college versus a public one. But, it has increasingly also become a debate involving paying for a more prestigious college versus a college perceived – at least by the child/parents – as lower ranked, with the lower ranked school offering merit aid.

Prior to the Great Recession, the payout for attending a private college/more highly ranked college was the normal course of action for Shoreline, Connecticut parents.  This modus operandi stemmed more from parents of college-bound seniors feeling secure about their economic future than from return on investment comparative calculus.  Specifically, my conversations with parents about college choice were much more about fit than about post-graduate job possibilities.

Now, “outcomes” – specifically how the extra dollars might relate to job outcomes is the big question.  Since I also run Career Counseling Connecticut, I know this subject well.

The big “it depends” relates to your student-child’s likely major and intended career path.

If your child is heading into elementary education, then unless you are concerned (as you should be) that she might leave the field, then it doesn’t matter that much.  But for high end business and professional jobs, it matters… quite a bit.

I am always an honest broker.  So, if you are sorting out what’s best for your child, I’m happy to help.