Category: Family

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7 Ways to Reduce the Cost of A College Education

college grad blackboardAccording to a report from the Bureau of Labor Statistics, approximately two-thirds of high school graduates enroll in college the fall following graduation. While most experts agree that a college education affects annual earnings by at least $20,000 (an estimated $1 million over the course of a working career), a 2011 Pew Research poll reported that more than 75% of Americans think a college education has become too expensive to afford.

In a May 2013 interview with US News & World Report, former U.S. Secretary of Education William Bennett advised parents that they shouldn’t “automatically or reflexively send their kids to college,” noting that there are 115,000 janitors in the U.S. with bachelor degrees today. His recently published book, “Is College Worth It?“, notes there will be 14 million jobs available in 2018 requiring more than a high school education, but less than a college diploma. Bennett also claims that a community college graduate, on average, makes more today than a graduate of a four-year university. That said, according to the Pew Poll, 86% of college graduates believe that college was a good investment, with 7 out of 10 stating the experience gave them maturity and intellectual growth, as well as job preparedness.

Whatever your feelings about the value of a college degree, there’s no denying that education is expensive. If you or your child wants to pursue a degree, there are ways to reduce educational expenses and avoid the long-term financial burden of extensive student loans.

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How to Praise and Encourage Kids Appropriately for Success

fater and son studyingAs Dr. Madeline Levine, author of “Teach Your Children Well,” stated in a 2012 New York Times article, “The central task of growing up is to develop a sense of self that is autonomous, confident, and generally in accord with reality.” Unfortunately, many parents in their attempts to give their children self-esteem and psychological security overly praise their children and celebrate the completion of tasks that are ordinary and easy, effectively rewarding them for mediocre efforts. As a consequence, children develop a false sense of self-confidence and achievement, a facade of self-esteem that crumbles when they are challenged as teenagers and college students with potentially devastating consequences.

Teaching a child to succeed and achieve the potential of which they are capable is not just a matter of positive reinforcement, but includes giving them the tools to understand and appreciate the reality of genuine achievement. Parents need to realize that self-esteem does not lead to accomplishment, but that accomplishment leads to self-esteem. Children who understand that instances of adversity and stress are inevitable in every person’s life are going to become emotionally and socially intelligent adults who can recover from disappointments and move on with their lives.

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Medicaid – How It Works

old man hospital bedMany health officials believe that Medicaid is the glue that helps to hold our healthcare system together, taking on the highest-risk, sickest, and most expensive populations that cannot qualify for outside private insurance or Medicare. It is America’s ultimate safety net. Unfortunately, it is also extremely costly: Medicaid, Social Security, and Medicare – the “big three” entitlement programs – accounted for 44% of the federal budget in 2012, according to The Heritage Foundation, and collectively consumed more than $2 trillion of services, with total revenues of $2.4 trillion.

According to the Congressional Budget Office, the Federal Government spent $275 billion in 2011 for Medicaid, covering on an average month 54 million Americans. Medicaid expenditures including federal funds is the largest government expenditure in each of the 50 states. Considering only state funds, Medicaid expenses trail only primary and secondary education expenses in state budgets.

Without fundamental change, our social welfare programs (including Medicaid) will ultimately bankrupt the country or drive taxes to unsustainable levels. A distinct possibility is that millions of poor Americans – the elderly, disabled, and children – will face a future without adequate healthcare or long-term nursing care.

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Relocating or Remodeling – Deciding Whether to Stay or Move

moving boxesHistorically, almost two-thirds of households in America live in a place they own. Homeownership is a key prong of the American dream, and according to a American Housing Survey by the U.S. Census Bureau, some 9 out of 10 Americans achieve it during their lifetime.

Also key to American homeownership is the notion of moving up – i.e., buying a home, living in it for a few years, then selling to reap the profit in order to purchase another property, either a higher-value place or one that better suits the owners’ current living situation. This was particularly popular in high-growth areas like California and Las Vegas. But that was before the recent economic downturn and a massive slump in housing prices. Now, the decision to sell your house and trade up is not as clear-cut as once thought, and owners are left wondering, Should we stay, or should we go?

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