You can easily get an expensive college education for a fraction of the cost. Before you get too excited, I have a confession to make. My daughter discovered this idea…not me.
(I’m a little embarrassed that I didn’t cook it up, but at least my progeny did.)
You may recall that my daughter started attending a state college last September. While she got in to a few snooty East Coast universities, we decided that it wasn’t worth selling my liver and right lung in order to finance it. We still wanted an expensive college education experience. We just didn’t want to pay for it. Our college funding solutions included looking at state colleges.
Of course, we had a few concerns about the quality of education she’d get. But since I’ve never seen any proof that higher price tag schools generate happier, wealthier grads, I encouraged her to make the decision she did.
(Also…she ended up going to my alma mater. I became a fan of the idea.)
But I must admit I started getting concerned during her first semester.
She told us that the quality of kids she was meeting was worrisome. They were not highly motivated and not doing all that well. This was a far cry from her high school days where all her friends were super motivated and excelling in many areas.
We started doubting ourselves…maybe we were wrong. Maybe the fact that people pay more for certain schools means the quality of students is better. If that were the case, it might justify having that liver and lung transplant after all.
Fortunately, my daughter solved the problem herself.
She discovered the solution that delivered the expensive college education without the price tag.
She found her way into an honors business organization and got involved with student council.
Turns out that the kids involved in these groups were super high achievers, highly responsible and great role models too.
In order to stay in the organization she must:
a. Show up on time.
b. Demonstrate responsibility.
c. Present herself professionally.
d. Deliver results.
e. Excel in teamwork.
If I didn’t know better, I’d think she was going for her MBA.
I have always been of the mind that very little is taught in the classroom. My experience tells me that the really valuable lessons are learned “in the field.”
I honestly think that my daughter is getting a far better educational experience than she could have received had she gone to those snooty East Coast schools.
She told me herself that she would have felt intimidated and would never have had the chutzpah to get involved in the organizations she has at State.
So there you have it. If you, your child or grandchild really wants to get something out of college, make sure they throw themselves into a highly demanding, academically oriented organization. This way, they too will get an expensive college education without the high cost. They’ll rub shoulders with the cream of the crop. They have great role models and learn more than they could anywhere else. You may not even have to worry about filing out those useless financial aid forms.
What was your experience in school? Did you get really involved or just party? What was the outcome?
Miranda says
It really is what you make of it. I got partial scholarships to schools that were quite expensive. In the end, I went to a small state school, excelled, and then got into a good grad program. In the end, whether you do well or not depends on you. And, as my lawyer uncle points out, “People would rather see that you were the top of your class at a small program, than that you were mediocre or bottom at a large and prestigious program.”
dp says
Great post and so true.
Way back in college, I met a cute boy in the science library and ended-up with a career in medicine thanks to his direction.
Surround yourself with success and you will be successful.
Financial Samurai says
Ok Neal, the suspense is killing me, WHAT school is she attending and what expensive schools is she forgoing?
BTW, I love UCLA, UC Berkeley, and a host of other high quality state schools!
Matt Jabs says
I mostly breezed through school without applying myself as much as I should have, but looking back… I was soooooo not ready. I would have been much better off working for awhile so I could get a dose of reality. Instead I partied and let a lot of great opportunities slip me by. A few years out of school is when I finally wanted to learn… and that is still where I am today. I love learning, I just wasn’t ready back then. 🙂
Abigail says
I absolutely agree. I went to an honors program at the University of Washington, rather than graduate $100,000 in debt from Cornell. I got a stellar education.
What’s more, with all the graduate-level degrees running around out there, it makes sense to save your money for where it counts. Companies look at the last school you attended. (My aunt went to a few different colleges, but she went to graduate school at Harvard. That’s what got her interviews.)
And you don’t have to be in an Ivy League college to get into Ivy League grad school. In fact, it can help if you don’t, because you’re more likely to be a big fish in a small pond.
One friend stayed up at University of Alaska at Anchorage (the rest of us couldn’t get away fast enough) because she didn’t want to go into debt for her education. She became class president her sophomore year. She ended up going to Tufts for graduate school and currently works for the State Department.
Justin Goodman says
Networking is everything they say, and you can network at any school you go to if you have the desire to do so.
I went to a state school and while I did not join any honors societies ( I should have), I became VERY active in the American Marketing Association, which was vital to my college career. I was with like minded individuals who all wanted to become better marketers. When it came time to being part of a team for a class project, I could spot my AMA buddies and knew that those folks were really going to put in some extra effort.
Networking got me my first job, and has landed me a good handful of freelance work. I started networking in college, at a state school, and continued for a while there after. After reading this post and writing my response, I realize that it is something I need to do again, and more often!
Neal@Wealth Pilgrim says
It’s a fair question.
It was weird. All her friends went to the “snooty schools” — and I say that w/love and respect.
It was difficult and I felt guilty. I don’t think that was rational because:
a. the huge price tag of $60k wasn’t possible
b. I wasn’t willing to go into debt or for her to have loans
c. I never thought the high-priced school would help her more than a State school.
But to answer your question….it felt bad for awhile.
I don’t think our “feelings” have much to do with making good decisions and I would have felt worse having made a decision just to feel better. But I do need to be honest w/you.
Evolution Of Wealth says
The honors program is great advice. Being from MA, I’ve heard and know of some people that have really excelled coming out of the UMass honors program. It has become fairly competitive. Of course, I’m from a school that you would probably include in the “snooty” class.
I have a question that I think will sound wrong so don’t take this personally, but how did it feel making a college decision based on money?
Jeff says
I work in a large company and the graduates from the “big” schools are no more likely to excel than someone who attended a small unknown school. I believe its all about the person, not the school. I’m so glad your Daughter is doing well, she’ll kick butt in the real world. I just hate the entitlement that “big” school grads have. Just because you stupidly paid more doesn’t mean you know more.
Neal@Wealth Pilgrim says
Right on brother Jeff…!!!!
Tom says
Great Post. I am curious if your daughter went to a private HS? I am currently in the process of evaluating my daughters acceptances to colleges. I have to admit there are a few “snooty Northeast” colleges, but your insight is very helpful. She is very smart, and motivated, but is currently in a public school so the “competition” is low. Thanks for the post and your blog!
Neal@Wealth Pilgrim says
Hey Tom….thanks for your kind words.
All my kids went to public school. They all find their own competition. By that I mean, if they worked hard, they got into tougher classes. They could find any level they wanted at the public school — which is what we’re learning in the college experience.
The part of LA we live in is regarded as having a very good school system — which is why we live here. But we have kids who are slackers here too.
My gut tells me your daughter could replicate my kids’ experiences by getting super involved at the high-school level too. Look for really demanding clubs and groups.
Let me know how it goes man. Keep fighting the good fight!