Educational choices are abundant and oftentimes difficult for young and older students to decide what field of study to pursue. For those high school students preparing for college life, this article is for you!
Do you have a passion? Is there something you truly love to do? Is there something you would do for free because you enjoy learning about it so much? Personally, I love aviation. I remember telling the Air Force I would fly for free (as long as they gave my family a place to stay–and food). This is a field that I decided to study because no matter how much or little I made, I enjoyed working around airplanes.
College life is not going to be easy, so it is best to find a path that you will enjoy. If you sacrifice by spending time apart from family and friends, getting to study something you love will make the sacrifice a little less painful. People can make recommendations, but at the end of the day, you are the one who will have to go to work each day. Pick a field you will enjoy!
While picking your degree program is important, it is critical to minimize the amount of student loan debt you incur. Amassing $100K in student loan debt for a degree program that will only pay you $30K yearly may not be the best investment. Treat your education like a business. On the other hand, you still have to follow your passion. Be sure to balance the cost of the program with the expected amount of money you will earn. As I say, some decisions may not make financial sense because they are from the heart. I cannot go against a true “heart” decision; however, for those that are not sure what path in life they desire, you may want to think twice before accumulating a lot of student loan debt.
Some ways to minimize the amount of debt you incur is applying for scholarships, doing work study programs, attending a junior or community college, etc. Personally, I attended a community college and also tested out of 24 hours of college classes utilizing the College-Level Examination Program. Be creative–actions taken in college to minimize debt will put you on the path to building wealth.
More information can be found in the book, Generational Wealth Builder.