The Smart Money Experts run down what parents and prospective students should be thinking about before shelling out thousands to go to college.
While it's true that a bachelor's degree affords more earning power, that's only if a student completes the degree. Otherwise, you're incurring the cost without gaining most of the benefits.
When it comes to selecting which school, don't select an expensive one for a low-paying major. Business and STEM majors offer the best-earning prospects while arts and humanities offer the worst, so pick a college accordingly.
When it comes to what is a good-paying job the answer really is relative.
"It’s about what you spend, it’s not what you make. If you’re able to control your spending, it really doesn’t matter how much you make," financial advisor Nolan Keim says,
- Nolan Keim, associate wealth advisor, Mariner Wealth Advisors
- Barbara McMahon, financial adviser, Prosperity Advisors.
