It was just a few years ago that the College Is Your Best Investment crowd was telling Americans that they should borrow to the hilt for the most prestigious degree possible because having it would ensure future prosperity. Lots of people accepted that notion and now regret it. And some schools are looking for ways of reducing their puffed-up costs.
College isn’t the best choice for everyone, but for those who conclude that you really need a degree, it’s possible to earn one without going into debt. That’s the point that Professor Rob Jenkins makes in today’s Martin Center article.
He writes:
It is possible, I believe, to earn a bachelor’s degree without taking on an inordinate amount of debt — perhaps none at all. Doing so will require a great deal of work — above and beyond schoolwork—along with considerable personal sacrifice and significant help from family. But it all may seem worth it when, a few years down the road, you’re buying your first home while watching your debt-saddled friends struggle to afford rent.
Among Jenkins’s suggestions: Take advantage of early college, look for scholarships, hold a part-time job, stay local, don’t dither around with changing majors.
Read the whole thing.