[adpoe]

Opinion:

Just like the stock market, college is also an investment. There is risk involved.

One of the main problems is that this is NOT communicated well. (If it all.)

Too many people take on huge long-shot risks that are unlikely to pay off.

Yes, if you get an English degree and become a professional writer selling books and screenplays at $1MM a pop -- that's an awesome and incredible gig. But not many people can get it. The $30k - $150k for that degree is a very risky investment.

On the other hand, spending $30k for a degree in engineering, CS, physics, math, etc... is much less risky. And it's a better investment. However--even in this case--maybe it's not worth the extra $100k for a private college. Maybe Big State U is good enough, and a safer bet with similar outcomes.

When I first went to college, everyone around me said: "it doesn't matter what you major in, just get a degree and you'll be fine." They were wrong. It doesn't work that way anymore (if it ever did).

Communicating this risk/reward tradeoff, and what it means for one's future, is the source of most college-related money problems.

--- Personal anecdote: I have a CS degree, but started out in a liberal arts discipline. So those experiences form my opinions.

[virmundi]

You can't discharge college loans if taken from a federal program. Unlike other ventures where you can pay pennies on the dollar when you bet and lose, such loans are pursued by the full force of the United States.

[learc83]

They also come with income based repayment plans that mean you'll never have to pay more than 10% of your discretionary income (income above 10% of the poverty line), and they are cancelled after 20 years of payment.