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The Family Teams Podcast

Ep. 234 | Should Preparing Kids for a Four Year Degree be the Default?

The Family Teams Podcast

Jeff Bethke

Religion & Spirituality, Kids & Family, Christianity, Parenting

4.9729 Ratings

🗓️ 31 January 2020

⏱️ 8 minutes

🧾️ Download transcript

Summary

Jeremy and Jeff discuss prepping kids for college.

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Transcript

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0:00.0

So we just did the math. That's an ROI. I like to hear. Yeah, the ROI was there. And so let's do it. Let's invest a year.

0:09.9

All right, guys, Jeff and Jeremy here back for another episode of Five Minute Fatherhood. We have a

0:12.9

question today from Emily from Home Room. It's a great question, common question. Thank you for asking

0:16.9

Emily. And essentially it should preparing kids for a four-year degree be the default or be just

0:21.8

the assumed position of families and their kids? And Emily asked in a longer way, from what I gather

0:26.4

from piecing it together stories I've heard from Jeremy and April over the year, it seems like

0:31.1

the two oldest priors are not enrolled in a typical four-year college or university. Maybe I'm wrong

0:35.6

on this. I was always taught to believe that a four-year

0:37.9

degree was the only best path for success, but now I have young kids and I'm thinking about their future.

0:43.1

I'm really fascinated to learn more about other paths, especially about your philosophy on post-high

0:47.8

school higher education. Thanks. Good question, Emily. I'm interested to see what Jeremy says.

1:28.0

I'm pretty, what's the word? Is it bullish or whatever on this question where I just think college is crap. I think it's a waste of time. I think it's a waste of money. I think it's not important. And even for the people, even who say, but, but, you know, and they give reasons on like the arguing for, I agree with those, but I'm not going to pay $250,000 ever for those. You know what I mean? Like, like do I think like, but, you know, you learn how to kind of grow up a little, but you kind of make friends or you kind of learn how to, you know, be on your own or study or any of that stuff. Yeah, I'm game for that. That has nothing to do with a quarter of a million dollars wanting to leave my bank account or not my bank

1:32.1

account, but get that subsidized by the federal government. Yeah, I just, here's the thing,

1:37.7

guys. I mean, in all honesty, I'm somewhat joking, somewhat being serious. And I'd love to hear

1:41.9

what Jeremy thinks. But for me, you have, I'm thinking about it from like, you are spending on average. I think it's about $200,000, not $250. It's usually about $40-ish,000, $50,000 now. But at least by the age our kids are now, if it keeps going with the same growth, college will be about $80,000 a year at private institutions when our kids are in college in 15 years, right? For, you know, if you have toddlers like us. Unbelievable. That's insane, right?

2:03.6

Yeah.

2:03.9

So then you have to think of it as just pure

2:05.2

math. It's an investment. Is the investment worth it? Is the R.O? Because here's the thing,

2:11.2

it's so logically not at most levels, right? Meaning like the price is growing like crazy faster than any inflation,

2:20.1

faster than any investment, faster than anything it used to cost before. But yet, the actual

2:25.0

ROI on that is diminishing every year, right? Getting less and less jobs for less and less money,

2:31.1

more and more unemployment right out of college. So I mean, like, it's the pure investment

...

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