6. School is expensive
Tuition has increased dramatically over the last couple decades and continues to climb. It is becoming one of the largest expenses individuals will make in their lifetimes. By the time you graduate with a 4 year degree, let alone a graduate degree, you could have likely have purchased a home with what you have spent on education. This is not to say education isn’t a valuable investment. But like any investing, it has to be done wisely to get a good return. Make sure you know what you’re getting into and what you want to do with your education before you start investing.
Student loan debt is alarmingly high. Currently more than $1.1 trillion in outstanding student loan debt exists in this country. 1 out of 7 borrowers has defaulted on their repayments. This means a couple things for perspective students. First, it should show you that many people are having a tough time paying for their exuberant educations costs in this economy. Secondly, major banks have already gotten out of the market of student loans, fearing the bubble will soon pop. Less money available for loans may leave kids with less funding options. Having an income source to help pay your way through school may become more necessary.
8. You’ll make better decisions
College in America is synonymous with partying. Distractions exist, money can be spent recklessly, and poor decisions could adversely affect the rest of your life. Sometimes students go to schools or chose majors based on their friends or other factors rather than their own interests. As a more experienced adult you’ll be able to objectively weigh decisions and make the ones that are truly best for you, not what your family, friends, or even your advisors tell you. In general, you can expect to make some bad decisions when you go out into this world on your own. It’s part of the learning process. But for some individuals, it may be better to get some of that learning done before college, then you can be sure you’ll get the college experience you really want.