College Funding Strategies

So you have the FAFSA submitted, college applications in the mail, and you’ve met with Indy College Funding; now what? If you haven’t already, it is probably a good time to start talking with your child about career choices. I can hear your replies now, “it’s too soon” or “give them a couple of semesters to feel it out” but choosing a future career field has weight for todays’ decisions.

Some schools are great for engineering, but not so great for teaching.   A school like the University of Kentucky is good for everything from football to business; so deciding on the right school has a lot to do with what your plans are for after college. Although nothing has to be set in stone, it is good to start your student talking about what their interests are, and what kind of job might fit them for the long haul. Too many times I have seen students change majors, career plans, and schools at the drop of a hat; leading to huge financial burdens, slim job prospects, and angry parents.

Deciding on a major/career path now can save a lot of time and money. The right major can also save a lot of worry about finding a job after college. A recent study from Georgetown University gives some great insight on unemployment rates and wages for graduates in certain fields of study. I have written an article that dives a little deeper into the statistics here: http://indycollegefunding.org/employment-and-earnings   Check it out and let me know what you think.

Ultimately your students’ future is just that, THEIR FUTURE. Help your child get on the right track but don’t push them into what you want. Just imagine pushing your tie-hating, outdoors loving child into pursuing an MBA instead of a degree in Natural Resource Management, only to have them quit the business world in the first year and work at a National Park. That might be an extreme example, but you get the point. Encourage your student to go after what they love, but be sure you provide them with all the information and opportunities you have at your disposal.

Thanks for reading!

Kurt

Kurt Supe offers securities and advisory services through cfd Investments, Inc. and Creative Financial Designs, Inc, respectively. Member FINRA/SIPC. Indy College Funding is not affiliated with the cfd companies.