Expanding Horizons are the ROI
Fridge Philosophy: Education Goes Beyond Degrees, Unveiling Life's Truths
Note: Since 2018, I have placed these short quotes on our refrigerator at home to provide subtle hints for successful, thoughtful, and purposeful practices in hopes my teens would internalize them. Along the way, I found them helpful in my own life.
(Note: We have been privileged to have steady jobs that have allowed us to make saving for higher education a priority.)
In a month, my second child will be off to college. During high school, she worked hard, earned good grades, cultivated a tremendous work ethic, and is ready to take a further step into her education. Meanwhile, my first child will be in his final year of higher ed, full of rigorous study and honing an advanced skill set.
As much as their classes will set them on a course toward a degree that hopefully will lead them to a sustainable job and career, I think the real value of going away to school will be taking these first steps on their own and navigating the world. They’ll make mistakes, find ways out of them, and take their first steps down a path that is their own. Meanwhile, their mother and I are forced to the sidelines, acting only as consultants when they request it.
There was a point as we got closer to these days that I wondered about the Return of Investment of the college education. We were saving for the biggest investment of our lives outside our home. The costs for this privilege were rising. Was investing in our child going to be worth it?
Higher education is coming at a high cost. A college education’s price tag is growing exponentially over household income, meaning students and parents must plan super early and save an insane amount, borrow against unfavorable terms, be independently wealthy, or take two years in a community college setting before embarking on a four-year degree.
In a 2023 article in Forbes, (New Analysis Shows a College Degree Still Yields Excellent Return on Investment), economists studied the average annual cost of attending college from 1980 to 2000 to 2020. They then examined the income a college graduate was expected to earn in a lifetime vs. those with a high school diploma. While the ROI has gone down since 1980, authors of the stuyd said, “although the rates of return on a college education vary greatly across time, gender, and race, they are still considered higher than the returns on financial assets, such as stocks and bonds. For example, investing in the stock market has returned about 10% per year since 1957; in 2020, returns on a college education varied from 13.5% to 35.9%. By this measure, a college degree is an excellent investment.”
In terms of employability, those with college degrees had a higher employment rate (86%), compared to those with some college (75%), high school graduates (68%) and those who did not complete high school (58%).
But I think the biggest investment in education is the opportunity value of having a semi-permeable bubble to learn personal responsibility. There will be real-world lessons in time management, conflict resolution, personal and situational awareness, prioritization, and more.
Further, even courses outside of one’s major coursework, general education requirements may seem rudimentary on the surface, but they provide frameworks to think through life’s problems. Math skills are valuable for thinking through problems methodically. Humanities provides insights into culture, common ground, and empathy. History has the benefit of time to reflect on causation and consequence.
As I watch my children step away from their parents, I’m excited with their opportunity to further grow into adulthood. Their education is transitioning toward life application and I’m excited to see what it brings.
Side of Mustard
Last week, I received another review of Lose Yourself.
***** A whirlwind of stories collide
Wetzel did a wonderful job of character development in Friends in Low Places, and this one masterfully carried forward the trend. The way he brought everything together and made me care about each character was so well done. The book is not about baseball: the backdrop of the game simply serves like the shell of the taco which holds all the meaty and flavorful parts that matter. One of the few times I wished a baseball game was longer!
I am always grateful when readers take time to read my books and follow up with a review. Reviews, particularly for indie writers, are critical as they lend credibility to the product for consumers to feel comfortable in purchasing.
On Sunday, I’ll be in Elk Grove, CA at an Author Faire at A Seat at the Table bookstore from 2:30-4:30. I’m excited not only to meet new readers, but fellow authors. If you’re in the Sacramento region, come on out.