I like a point this skit makes, that University can only get you a diploma 1) if you do the work and 2) if you pay for it. Universities aren’t an automatic ticket to a job, which seems to be the big fantasy of our generation. However, this doesn’t mean that University is worthless. You should make sure your expectations are in line with reality.
Speaking of reality, here’s a resource for anyone who’s getting ready for college or who’s helping someone get ready for college: Paying for College from the Consumer Financial Protection Bureau. There are a lot of clear, step-by-step tools for comparing college costs and figuring out a reasonable plan for financing college.
Here’s a little more reality for students as the enter college to get their four-year degree. Did you know that not all the people who start attending college complete college? It’s true. Check out College Affordability and Transparency Center from the U.S. Department of Education.
This is a great tool for researching the college you think you want to attend. For example, I put University of Arkansas at Little Rock (which is the college I’m attending for my MBA) in the calculator. I found a lot of great information about retention and graduation rates. I was amazed to find that one-third of first-time students who are seeking bachelor’s degrees do not return to UALR to continue their studies the following fall. Furthermore, only 1/5th of full-time, first-time students graduated or transferred out within 150% of “normal time” to completion for their program. These are not good odds for the new student. It’s also important to remember that the vast majority of people who enroll in college and then drop out intend to graduate just as much as someone who enrolls in college and does graduate.