Fortune Watch

In today’s marketplace, having a college degree can make one more competitive for jobs and serve as a key to upward mobility. The value of a college education goes beyond dollars and cents and building competency in a chosen discipline: there is an intrinsic value as well.

Perhaps this partially explains why millions of Americans forego common sense when picking college.

New Study Says Cost of College Is Not a Factor

According to a recent study by Sallie Mae, the country’s leading education lender, cost is often not a factor when picking college. “40 percent of families do not limit their search based on total expense.” Now, this would be fine if 40% of families were financially solvent enough to truly bear the costs of any school their students chose. However, students are increasingly being burdened with record levels of debts.

In fact, two-thirds of students graduate with some debt, with the average debt being $19,237. One-fourth of students will graduate with nearly $25,000, and 10% will graduate with greater than 35,000.

The primary reason attending school has become so much more expensive over the last decade is that school-related expenses (including tuition and fees) rise at rates that far outpace inflation.

According to the College Board, tuition and fees have risen in 2007 at more than double the rate of inflation for both public and private schools. Notwithstanding the fact that the inflation estimate is based on the consumer price index, which historically underestimates inflation by excluding gas and energy (too volatile), the cost of going to school can still be staggering.

While the annual costs for a public school (including tuition, room, and board) averages $13,589, the costs for a private school averages $32,307.
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College costs increase at about twice the inflation rate. Current increases have averaged 5% to 8%.

It is no secret that college tuition and expenses have been on a steady rise for many years. This has many families worried that they will not be able to afford to send their kids to college. Many even shy away from encouraging their children to dream of a college education. Trade skills are almost being forced on the younger generation. The daunting and staggering college costs are changing the way that we raise our kids.

Imagine if you were told not to dream. What if you told your parents that you wanted to be a doctor and they just had to turn you down? What does this do to the self esteem of a young child? Many families, college educated or not, struggle to keep up with housing costs and the cost of living in general. Saving for college simply is not in the cards for a lot more families than many would like to believe. What does this mean for the future of our country?

We are trending towards generation after generation of minimum wage and poverty level workers. What happens then? They can not afford college for their children and so the cycle continues. If you have been worried about affording college for your children, then there are some things that you should realize.

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For a long time the meaning of giftedness has been restricted to the rigid confines of achievement and accomplishment. Academic toppers are, and should be entitled to their share of glory, but in the process of lauding top scorers and scholarship winners we may be crowding out those who actually have advanced and complex patterns of development but just don’t fit the system’s definition of ‘top students’.

Characteristics of gifted individuals: If 75 per cent of the following 37 characteristics fit you, you are probably a gifted adult.
Are you a good problem solver?
Can you concentrate for long periods of time?
Are you a perfectionist?
Do you persevere with your interests?
Are you an avid reader?
Do you have a vivid imagination?
Do you enjoy doing jigsaw puzzles?
Often connect seemingly unrelated ideas?
Do you enjoy paradoxes?
Do you set high standards for yourself?
Do you have a good long-term memory?
Are you deeply compassionate?
Do you have persistent curiosity?
Do you have a good sense of humor?

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