Although the rising inflation of food, gas, and a variety of other consumer goods (principally measured by the consumer price index) and the spiking costs of medical care and insurance garner a lot of the attention, their level of inflation pales in comparison to the Latin American like inflation of college tuition. See graph. I have read, and it makes sense to me, that the cost of tuition has skyrocketed in part due to the accessibility of low interest student loans. Whatever the cause, if the trends continue and the forecasts are accurate regarding future price increases, my kids are going to be mowing a lot of lawns in order to afford college without being saddled with an excessive debt load!
I must admit that sometimes I feel like the guy in this cartoon but thankfully I have a loving wife that points out three important keys:1. We have been encouraged frequently by the prophet to get all the education we can.
2. Formal education pushes us to be more intelligent, well-rounded and disciplined.
3. It doesn't guarantee your dream job but it provides you with opportunities and options.
Perhaps Benjamin Franklin put it best, as he often did, when he said "An investment in knowledge always pays the best interest."
4 comments:
No kidding! Thinking about tuition for 5 (aahhh!) kids, not to mention missions, weddings and our own retirement, makes me totally crazy with worry over ours and their future. Scary! Did you have a fun anniversary trip? How was jet skiing?
It was great. We will blog about it soon.
Education is worth every penny, and boy do we know about every penny when we are paying on school loans from Pepperdine. Even though education is a ton of money I know that our life has been blessed from Mike's education. Soon it will be my turn....
My old juwish Rabbi sayes that no matter what hapens in life "knowlege is portable" you can take it wherever you go. Lots of love dad
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