What the College System Isn’t Telling Parents (Degree Free #207)

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Colleges are facing a financial reckoning. Moody's expects more private colleges to run at a loss, and closures can leave students with debt but no credential. We share one case where a nearly finished dental hygiene student lost her program overnight. If your child needs a degree for a licensed career, checking the school's finances now belongs on the list with income, schedule, work environment, and location.

Student debt does not disappear when borrowers get older. Millions of Americans over 60 still owe student loans, and some face collection through Social Security. Younger borrowers hold larger balances while wages have not kept pace. That means today's families are taking on more risk than the generations already struggling to retire.

Trust in elite colleges is falling too. We trace that loss of trust back to price, value, and accountability. A famous name cannot protect a family from a bad purchase. And switching the default from a four-year college to community college or trade school does not fix the core problem.

Start with your child's goals. Ask what they want from their location, income, schedule, and work environment. Then work backward to the education, license, skill, or experience that serves that goal. The destination comes first. The institution comes last.