Is Graduating With a Degree Really Worth Going Into Debt?

Whitney Sparks "A Fearless Heart"

One thing you may not know about me is that I was the first in my family to graduate from college.  I have God to thank for that and my parents.  They instilled in us from an early age that college was not an option.  They wanted both my brother and myself to have a degree.


My parents know how hard it is to work without a degree but somehow we always made it financially.

My dad worked at a research center and then always had side jobs.  I always saw my dad working.  He would help a friend run his ranch or mow lawns for the elderly.  He would never ask for much but people were always glad to pay my dad.  He was and still is a very hard worker.


The great thing about this story is that we never starved because my dad did not have a degree.  He was able to always provide for us because he worked so hard.


I hope that you realize that sometimes just good old hard work is the answer to a lot of your financial problems.


Through financial coaching, I am starting to converse more with college students.  One question I often ask:   “Is your job going to pay for your student loans?”.


Since most kids that I encounter are drowning in student loan debt, I believe this question to be highly relevant.


I have talked with students who have taken out more than $50K in student loans yet have no degree.  How are you ever going to pay off this loan working a job that pays $7.25/hour?


You have to think about these things before just running out to get a degree that is going to require you to spend a lot of money upfront.


I have stated in another blog that student loan debt is THE ONLY debt that should be accrued while in college.  That way when you do start your new career you are able to focus solely on paying down that debt.


Trust me, you don’t want to start off your new life just accruing more debts.  If you marry someone who is in debt and then the both of you accrue debts together – it’s all downhill from there.


I would love to hear your comments below on the topic of college.  It seems to be a hot one lately and since my kids are still elementary age I am almost clueless in this area.  What have you taught your kids about college going to college and are they attending a university right now?

One Comment on “Is Graduating With a Degree Really Worth Going Into Debt?”

  1. My dad didn’t go to college either and he was a very successful businessman. But these are definitely different times. I didn’t go to college either but my husband did and all 3 of my children have as well. They all had student loans – my oldest, who is out of college the longest has already paid his in full; my younger son is doing so now and has a good job and no other debt and my daughter is a senior in college – will have to get her Masters since she is going to be an elementary teacher and that is a requirement so she has more debt still ahead – but thankfully all 3 are careful with their finances and we are helping as much as we can. I definitely agree – student debt is more than enough. They definitely should not have any other debt – like credit cards!!

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