Key Reason for Wage Inequality Is Education

Study after study consistently shows the same data that college educated workers make more over their careers than those that do not earn college degrees.  The complex question to answer is that in the face of escalating college costs, rising debt, and a bleak job outlook is the risk worth it?

It depends upon your situation but no one tells you that you have to or send your kids to an ivy league school to get an ivy level education.  There are other options that people need to look at before jumping head first into a situation that could lead to debts that you cannot afford to pay back.  Or getting into a field that cannot support your lifestyle.

So here is s sneak peak that deal with part of this topic in our upcoming lecture in September.  Here are some ideas that may help you with your specific education delima.

• Start saving early
• Invest consistently 
• Choose a tax deferred saving option i.e. 529 Plan, IRA
• Pick a school you can afford - think state school or start out at a community college
• Go a different route - college isn't for everyone and can be a very expensive place to find yourself
• Know what you are getting into - if you have to take on debt can you afford to pay it back?
• If you borrow, stick with federal loans

Here is some additional detail and specifics regarding this topic from the WSJ