Education Is Most Important

Chad has a daughter starting college next year. How does he send her through without taking out student loans? Dave suggests choosing a school that fits Chad’s budget.

QUESTION: Chad on Facebook has a daughter starting college next year. How does he send her through without taking out student loans? Dave suggests choosing a school that fits Chad’s budget.

ANSWER: You would be correct, sir. I am not for that plan. You choose a school that fits your budget. She works all summer long really, really hard and all evenings really, really hard. And even while she’s in school, she works a job. While I was in school, I worked 40–60 hours a week and graduated in four years. Shocking!

How do you do that? You don’t have much of a life, but you get your education. Education is most important here. We start and end with that. Then we select a college that’s within the budget. We do not have the budget to go to an expensive school in this situation. We’re going to in-state tuition and those kinds of things, maybe even a community college. It’s a great education in a lot of cases. Select carefully. Look at what you’re getting for what you pay, but more expensive does not always mean more in the education world. Sometimes all it means is a little more snobbery. The correlation between where someone goes to school and how successful they become is very small. But education is very important.

I’m going to cash flow this with her hard work, choosing a college we can afford, take the ACT two or three times, apply for five bazillion scholarships this summer, get turned down for all but 10 of them, but get 10 of them for $1,000 each, and that will help you go a long way. That’s the kind of stuff we do here to make this work.