31: Should My Teen Go to College? Is It Worth It?

<p><span style="font-weight: 400;">Peter Bielagus is a Financial Speaker and the Author of three books on money management. In this week’s episode, he explores whether it makes sense for your teen to attend college. He also answers the question on what parents can do if their teen doesn’t want to go to college; the options they have to pursue education; and the types of conversation you should be having with your teen around money and education. </span></p> <p> </p> <p><span style="font-weight: 400;">Key Takeaways</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Going to college to get good grades is an outdated concept. A student today needs to take advantage of more than just when they’re at a university. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">It’s too expensive to just go to college just for the degree, and nothing more. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">What do you do when your teen doesn’t want to go to college? </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">20 years ago, college was an experience. Today, it is an investment and students need to be very cautious on how they use that investment in time. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">There are different approaches to take in regard to furthering your teen’s education. College is no longer the only ‘best option’. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Growing up, Ed never had the expectation that his parents would pay for college. Today, it seems to be the gold standard. Peter weighs in on his thoughts. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">There is such a thing as student loans, but there is no such thing as retirement loans. Parents need to prioritize their retirements first. </span></li> <li style="fo