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Retire With Ryan

Nov 16, 2022

Simultaneously saving for retirement and your child’s college education requires delicate and intentional planning. You want to ensure you and your student will get a quality return on the sizable investment you’re making. On this episode, I sit down with educational planning expert Beth Probst of At The Core to discuss the rising costs of college tuition, setting up high school seniors for success, and the tool she created to help college-bound students get the most out of higher education.

You will want to hear this episode if you are interested in...

  • Setting high school seniors up for success and the misnomer of “good schools” [1:48]
  • Ryan’s college selection experience, the rising cost of tuition, and questions to answer before investing in higher education [9:07]
  • Beth’s Guided Self-Assessment and why students should plan before they leap [20:11]

Understanding the cost of higher education

It’s hard to believe that college ever cost $6,000 a year. Today you would be lucky to pay that per semester for tuition alone. With the average annual cost for the complete college experience (tuition, books, room, and board) coming in around $35,000, you want to know that you and your student will get the most out of that investment before you sign on the dotted line. Parents will want to do everything they can to help their students not only get into college, but leave that place with the training and skills needed to have a successful career.

One way to do that is through students taking AP classes in high school. These classes of increased difficulty are taught by high school teachers to prepare students for a three-hour test administered at the end of the year. Students can receive college credit for the subject area depending on their score out of five and the preferences of the institution they are enrolled at. Another option to prepare students for college is dual enrollment. This is where students take actual college classes for credit during high school hours at a significantly reduced rate.

Setting students up for success

While AP classes and dual enrollment can help prepare students for the college academic environment, knowing why they want to be there in the first place is the key to making a solid academic investment. It’s easy to walk onto a gorgeous college campus and fall in love with an $80,000-per-year school, but unless your student can financially justify the price tag, a less expensive option is probably a better investment. The idea that some schools are better simply because they cost more is nothing but clever marketing. The best school is the one that sets your student up for success without crippling debt.

It’s so important for college-bound students to know who they are and what kinds of careers could be a great fit. College is way too expensive for them to just show up and figure it out. That’s why Beth started At The Core. Her guided self-assessment allows students to dive deep into their strengths, struggles, interests, preferences, values, and lifestyle goals through a series of five one-hour interviews. Then Beth and her team compile that information into a report, giving students a snapshot of who they are and potential careers tied to their natural inclinations. Walking into college with solid career goals and objectives for their educational experience helps students get the most out of their educational investment. For more information listen to this episode and visit the links below!

Resources Mentioned

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