In this third episode of my special college series, I'm going to give you some hard truths that might make you uncomfortable – but they could save your teen's financial future.

I start by revealing a shocking statistic: engineering graduates earn $73,000 five years after graduation, while psychology majors earn just $40,000 – yet both degrees cost exactly the same at any given school. This isn't fair, and it's why you need to think about college as an investment that must generate a solid return.

Here's what I really want you to understand: the days of "follow your passion" advice are over. When college cost $5,000 total back in the 1960s and few people had degrees, any diploma set you apart. Today, with 60% of high school graduates going to college and degrees costing up to $300,000, your teen faces massive competition and must choose a major that leads to high-paying work.

I spend significant time explaining why student loans are so dangerous – and they're nothing like other loans. Unlike mortgages or car loans, student lenders give money directly to 18-year-olds with no income requirements, no collateral, and no monthly payments for up to seven years. The results are devastating: 71% of borrowers delay major life decisions like buying homes, getting married, or having children because of their debt.

Even worse, you can't discharge student loans in bankruptcy, and 37% of students drop out but still owe the money. I share alarming statistics about wage garnishments and how 4 million parents owe $65 billion in parent PLUS loans.

My message is clear: choose an inexpensive college, graduate in four years, and avoid student loans entirely. Next week, I'll show you exactly how to minimize college costs and reveal the 12 biggest mistakes students make.

This episode is essential listening for any parent who wants to help their teen get a college education without destroying their financial future.

Ready to help your teen avoid the college trap and find their path to success?

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