Will College Be Worth the Investment for My Son?

Crystal Cazier with her husband, Hdavid, and her son, Isai.

“Adulting is just a never-ending to-do list,” one of my dear friends for nearly 20 years mused one evening earlier this year. I had never heard a more accurate description of what it meant to grow up.

There are all the things that must get done every day at home and at work, and then there are the tasks that are important but seem unnecessarily difficult to navigate – secure life insurance policies, arrange estate planning documents, make investments (or first, understand what the heck an investment is). This adult to-do list already seemed daunting, and then I added a kid to the equation.

Before mine turned one, I realized how much longer my to-do list was getting. Early in his young life, “research college saving options” went on it.

Quickly, I was overwhelmed. There are multiple types of accounts and many companies that offer varying options with different requirements, restrictions, and tax implications. And to be honest, I still have not figured it out or set one up.

But in the limited time that I dedicated to this task, bigger conversations emerged in our household: Would college be worth it for our son? Would it even be something that we expected of him?

First, my husband and I recognized that we are incredibly privileged to be in a position where we can entertain the idea of saving for our son’s future. Far too many in the U.S. (not to mention globally) do not have access to this freedom. To be in a place where we can consider how our current financial decisions will impact our son’s options 20 years from now – and that college is a realistic possibility — represents the inequity that persists in access to education. Period, end of sentence.

Second, we realized that college is expensive. The average cost for a four-year undergraduate degree with in-state tuition and fees is $10,900 annually, according to a 2022 College Board report. A private institution is almost four times that. And this amount doesn’t include books, supplies, housing, food, transportation, and other personal expenses.

Most students do receive some sort of financial assistance through grants, scholarships, or waivers, according to the same College Board report. But the financial burden for many students will follow them well into their professional careers.

But in the limited time that I dedicated to this task, bigger conversations emerged in our household: Would college be worth it for our son? Would it even be something that we expected of him?

I was fortunate to not have accrued student loans for my undergraduate or graduate degrees. As an undergrad student at a public in-state institution, I received enough financial assistance to cover tuition and fees, held a student job, and had some savings that helped. I chose a graduate program that allowed me to work full-time, take advantage of our organization’s education assistance program, and again pay in-state tuition at a public university.

This isn’t the case for far too many. Nearly 43 million people are responsible for paying off student loans, with a remaining balance of student loan debt up to $40,000, according to a report by the Education Data Initiative. By income, students from middle-income backgrounds are most likely to have federal student loans.

The ongoing debt burden is most acutely felt among Black graduates. Four years after they graduate, nearly half of Black students owe over 12% more than what they initially borrowed, and over half indicate that their net worth is less than the remaining balance of their student loans, according to another report by the same organization.

If college will be an option for my son – one that won’t launch his professional career already in the red – it will have to begin with our preparation now.

For our family, it’s not about the letters behind a name, or the accolades that come with higher education. It’s about our son being a kind person, someone who accepts others just as they are, and who will contribute to his community and society in the way that best suits his skills, passion, and realistic options, while allowing him to be financially independent. While we have seen the data correlating education to income, our personal experience has taught us that a college education alone is not the path to happiness and success. There are other options.

My husband, Hdavid, and my educational experiences couldn’t be more different – I have completed a master’s degree, and every six months I consider applying for a doctorate. Hdavid attended a Dallas public school where teachers repeatedly told him and his classmates that “Most of you won’t graduate, so why try?” He graduated against the odds: 75% of his freshman class didn’t complete high school at all.

If college will be an option for my son – one that won’t launch his professional career already in the red – it will have to begin with our preparation now.

After a year at a local junior college, he decided to do something different. He entered a Bible training program where he received not only spiritual development, but also skills in graphic design, videography, and photography. Applying his creativity, natural leadership ability, and with the support of a few bosses who were willing to take a chance, Hdavid is a successful creative director at a mega-church in Houston, Texas.

In fact, he’s never applied for a job or even had a resume – he is sought out. The opportunities he has been given and his talents have allowed him to be one of the leading experts in his field. Without a college degree.

I’m not saying that will happen for everyone – it wouldn’t have been the case for me. And for those who do want to pursue a college degree, but for whom the cost is prohibitive, we need better options to create more equitable opportunities for everyone. But for our family, we want to keep our options open for our son, so that whatever he chooses, formal college education or another path, he knows we support him to pursue his dreams.