Affordable College Education for All – By George Mentz, JD, MBA, CWM

I have always wished that the USA States would allow out-of-state students to have a local tuition price.  In the EU, they do not have that problem, but you do need to earn your way into top colleges before getting the in-province price.

The other issue is that a whopping 10% of the national debt is student loans i.e. 1.2 Trillion or more.  It takes most of us years to pay our loans off, and I know that it can be even more challenging to pay off college debt for your degree, masters or doctorate.  Many medical students have over 250K of debt when they earn their MD degree.  Lawyers average about 100K.  Many doctors and lawyers just want to serve the public, work in government etc.  Many new doctors may never pay their debt off for various reasons of which you can guess.

Many new education debates revolve around MOOCs, and it is my contention that the MOOC world and free college credits online may lower demand for many college programs.  Example: You can take various online courses for free and rack up a lot of college credits.  With the economy the way it is, demand for some graduate degrees is waning.   This is the first year in 40 years where law school applicants and seats were at parity.  Thus, if you wanted to go to law school, a school would have had a seat somewhere in the USA.  

At a college professor for over a decade, tuition prices have shot through the roof.  As a note, the three top  areas of price growth in the USA have been: Health Care, Energy and Education.  All three are subsidized in various ways....

On a note of optimism, education for several classes of folks has been revitalized by the Internet:  1) Stay at Home Parents who are caring for elders or children 2) Commuters who can’t afford the gas and time on the road 3) Road Warriors – Military, Sales, IT Travelers….   It has been my distinct pleasure to teach thousands of these adult students over the last decade.  They say that enrollment with online degree programs has gone from zero to 20 million people in the last 15 years. 

One of the few things that politicians have agreed upon over the last 40 years is universal education opportunities for all classes of people.  Example: Even Louisiana will provide free higher education to students who maintain a B- average. See TOPS Scholarships.  Further, loans and grants have been made to any US citizen with a pulse, and recruiters at high tuition colleges seem somewhat predatory for these students.

As a note, the place where I grew up still has affordable college tuition, and this is true for many small and medium sized cities.  Presently, a full time student would pay 2100 dollars per semester at the regular rate in my home town at the local business school which is nationally accredited.  This is a great country and there are hundreds of great colleges throughout the land to choose from both onsite and online.  In Malcolm Gladwell’s recent interviews, he even suggests that high performing students enjoy colleges where they can feel unique and challenged.  Thus, the top ranked brand-named schools are not necessary for a person to cultivate their highest talents and abilities, and a small liberal-arts school with a focus on the arts or technology etc…may be best for your loved one.

In sum, I think that all colleges should charge the same rate to all students whether they are from Boston or Birmingham Alabama or Cuernavaca Mexico, and they should provide discounts to those students who have an earnest interest in their courses who keep a good GPA.

Regarding Online Education, Here are some Stocks to Research: DeVry Education Group Inc DV, Apollo Education Group Inc APOL, ITT Educational Services, Inc. ESI, New Oriental Education & Tech Grp (ADR) EDU, Grand Canyon Education Inc LOPE

Dr. George Mentz is a world recognized wealth management commentator and professor who has authored several revolutionary books. Prof. Mentz, an international attorney, is the CEO of the Global Academy of Finance and Management www.GAFM.org  and has been a keynote speaker globally in Asia, Arabia, USA, Mexico, Switzerland, and in the West Indies. Mentz can be contacted for speaking engagements at www.gmentz.com or www.managementconsultant.us  Dr. Mentz is a CWM Chartered Wealth Manager and holds a Doctorate of Jurisprudence and an MBA and serves as faculty and professor for several esteemed colleges, law schools and business schools worldwide. Mentz is a bestselling author in 2013 in several areas on Amazon and a 2 time national award winner for excellence in teaching.

*No tax investment or legal advice provided herein.  Please consult with a licensed professional in your jurisdiction before making any important financial or legal decision.