Personal Finance Essentials
College Planning
The Most Expensive Decision Your Teen Will Ever Make
One in four freshmen drops out — but the student loans don’t go away
It’s one of the most important decisions you and your teen will ever make: whether to pursue a college degree, and if so, what major to select and which school to attend.
The benefits of getting a degree are well documented. Compared to non-graduates, those who attain a college degree enjoy better work-life balance, higher salaries and superior employee benefits, stronger marriages, better outcomes for children, improved relationships with parents and siblings, more friends, more engagement with their community, better health and longer lifespans.
But a quarter (24%) of college freshmen drop out, and only 62% graduate after six years. All the time and money spent on college is lost – yet the student loans remain. Thus, it’s vital that you and your teen answer this question correctly: Is college the right path?
Quick Quiz
