<p>This is reminiscent of the discussion about what to say to people when they degrade you child’s decision about pursuing an MT degree; in that thread as well the ROI was discussed at leangth. My view is that the fact some kids have to take out enormous student loans is an indictment against colleges and tuitions in general, and is no greater concern with the MT degree over any other degree. There are very few guarantees with any college degree; look how many MBAs, engineers etc are looking for work right now. So taking out 100k to get a college degree to me is ill advised regardless of the degree program. Kids in that situation need to seriously consider a community college to get their requriements done first at an affordable rate, and get great grades that can hopefully help them get scholarships to the terminal degree program.</p>
<p>The other way some look at it is that student loans are an investment. But compared to, say, buying a house for 100k, a student loan investment doesn’t appreciate in value over time as does a house (the present bubble excluded), and you don’t get a 30 year payment plan for student loans. Thus a much riskier scenario. </p>
<p>Which lead me back again to the point we have made with our daughter: pick the schools without looking at costs, but understand costs will ultimately be a determining factor in your decision. We will help somewhat, but her ability to get scholarships as well as grants, work study, etc means she has to have a lot of skin in the game. She gets that, and as pointed out above until we know where she gets in and what financial package is offered there’s no way to know what will happen. We intend to enjoy the ride as much as possible.</p>