Decision Day is here, and millions of high school seniors are about to make the biggest financial decision of their lives. Before you commit, here are five truths worth hearing.
These have been observed and experienced over 15+ years of working with young adults and seeing career progression over time.
1. The cheapest college is probably the best college
The job market is changing faster than ever. AI is reshaping entire industries, and the credentials that mattered ten years ago may not matter as much a decade from now. Taking on six figures of student loan debt for a name-brand degree is a bigger gamble than ever.
The better thing to do is to reduce costs without sacrificing opportunity. In-state school, in-state tuition, scholarships, and community college transfers can save thousands of dollars — money that finances your first home, your retirement contributions, or your ability to take career risks in your 20s.
2. College doesn’t define you
You’ve probably been told that college will be the best four years of your life. For most people, this is not true – and that’s a good thing.
You’ll probably still keep in touch with one or two people from your graduating class. There’s always that one person who makes it to the top of college, but most people don’t make it. Your best chapters (career wins, family, financial freedom) come later. Don’t make six-figure decisions based on a romanticized version of campus life.
3. Your major is not equal to your career
Most of the people end up working in fields that are not related to their studies. Choose a major you can actually complete, increase your GPA, graduate on time, and keep your debt low.
Flexibility beats specialization at 18, especially when you don’t yet know what you want to do at 28.
and according to Bureau of Labor Statistics (PDF file), Between ages 18 and 24, Americans change jobs an average of 5.7 times. And between the ages of 25 and 34 they change jobs an average of 2.4 times. It is not unheard of for a person to have 12-15 jobs before retirement.
4. Never borrow more than your expected first year salary
This is the most important rule of borrowing student loans. If your target career pays $50,000, don’t take out $90,000 in debt. If you’re studying to become a teacher, you shouldn’t have law school-level debt.
This rule alone will shape your entire 20th year—your ability to save, invest, buy a house, or change careers. If you borrow too much loan that you cannot afford based on your salary, you will not be able to achieve these milestones. Run the numbers before signing. College Investor has a great calculator to see how much student loan debt you can afford.
5. Experience beats reputation
Employers care about what you’ve actually done, not where you went to college. A state school graduate with three internships, a strong skillset, and real networking will outperform an Ivy League graduate without one any time.
Start building real-world experience in your first year. Internships, part-time work, side projects, and professional relationships matter more than the logo on your diploma.
And from your other job? Employers don’t even care where you went to college.
bottom line
Judgment Day is important, but it is not your whole story. The college you choose matters less than the financial decisions you make about it. Choose the option that gives you the most flexibility, least debt, and the most room to build a life on your terms.
