Just Starting Out, But Already Behind
A 5/14 ABC News story reported that students now graduating from college with a bachelor's degree are beginning their careers with an average of over $17,000 of debt. And that's forcing some – especially liberal arts majors – to forgo the idealism of their intended career in favor of better-paying jobs. Two other news organizations offer some help. U.S. News & World Report provides numerous good ideas for paying for college or paying off student loans here , and Kiplinger's offers an often overlooked idea: a stint of public service work in exchange for some forgiveness of student loans .
Matt's View
Believe it or not, there are ways to go to college without racking up loads of debt. If your kids are still in diapers, think 529 plans. If they're older and you (or they) don't have much in savings, think community college for the first two years, or look into co-op programs in which students go to school one term and then work at a job in their chosen field the next term. Finding ways to minimize debt when paying for college takes some time, requires some creativity and often involves some level of compromise. But it sure beats having your kids start their careers underneath a pile of bills.
Managing Money by The Book
- "Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock." - Matthew 7:24-25
Recommended Resources
- Money, Purpose, Joy - Discussion Guide
- If you want to take your relationship with money to a whole new level, bring the subject into your small group. It can be scary to open up about money, at least at first. But the "Money, Purpose, Joy Discussion...…Read the rest
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