Meet “Fearless” Felix Baumgartner (“Jump” image from Flickr) – an Australian daredevil. Fearless Felix participated in the Red Bull Stratos Project. He rode a helium balloon into the stratosphere – 24 miles up and should be an inspiration for all of us to ask why all college grads can’t be more like him and land on their feet after their diploma hits their hand.Felix_Baumgartner_2013 Wikipedia

After saying,  “I’m coming home,”   Felix casually leaned forward to begin his descent from the high altitude balloon. And what a descent it was:

  • He was in free fall for 4 minutes and 19 seconds.
  • Reached a speed of 843.6 miles per hour – that’s Mach 1.25.
  • He caused a sonic boom – by himself – the first person ever to break the sound barrier without the aid of a vehicle.
  • He also came out of a death spiral. The engineers who modeled his free fall realized that at some point he would start spinning out of control, which had to be stopped in order to deploy the parachute on his back. So they taught him how to right himself if this were to happen.

Watch the You Tube videos of this. It’s mesmerizing and was motivational for me.

After:

  • two years of planning,
  • 2 test jumps,
  • many visits to a sports psychologist to overcome his one fear – claustrophobia, and
  • 1 delayed jump due to bad weather

On October 14, 2012, Felix:

  • jumped from 127,852 feet
  • controlled his in-flight wobble that could easily have resulted in his death
  • and proceeded to land on his feet.

A perfect landing. An Olympic gymnast would have been in awe.

So I have to ask you: How is it that we can dedicate that kind of ingenuity to accomplish such an audacious goal, but we can’t seem to find a way to have our college graduates land on their feet: with a degree, a well-paying job and if they need some loans, with a debt burden that is manageable.   It boggles my mind.

We’ll discuss this in more detail in later posts, but here’s a start for families trying to achieve their dreams of a college education for their children.

Parents and students should recognize that colleges are a business with two primary goals  for admitting next year’s class:

  • Maximize net tuition revenue
  • assemble a diverse class that competes favorably against peer institutions, is well-balanced with a talented pool of matriculants, and will make the class, the administration, the faculty and the alumni proud.

Too often families take a “damn the torpedos” approach and borrow whatever they need for “the best” brand name college    Families that resist basing this important decision mostly on emotion and instead act like traditional consumers — in this case of education — have a much better chance of a college graduate who lands on their feet.  Here’s a simple formula for success for families:

  • Be realistic, college is not for everyone.  Is it the student’s dream, or at least strong desire, to attend college?  Is the student properly motivated to be successful or are they fulfilling what they perceive to be someone else’s dream: a parent, guardian or guidance counselor?  Sometimes delaying college of a year or two, or not attending, is a a better choice than starting, only to drop out.
  • Determine what type of school best fits the student’s needs. Cost aside for this moment, a  4 year private college may be the right answer for many, but not all – particularly the very most selective which admit fewer than 10% of the applicants. Community colleges give many students a terrific start.  Public colleges offer excellent learning environments that are the ticket to success for many students.  The key is finding the best academic and social fit for that particular student.
  • Select a school in that spectrum that is affordable.  There is no magic formula for affordability but a one litmus test:  will the student and/or parent be required to take debt in order for the student to attend?  If so, will the student’s potential post-graduate job prospects likely pay enough to repay the debt. Likewise, is parental debt affordable based on income?  Is the parent’s debt burden affecting their retirement savings?
  • Have these conversations early and over time — starting as early as ninth grade with general thoughts and become increasingly concrete as the student’s record of achievement in high school takes shape, test scores come in, college visits are made and the student’s desires sharpen.  The earlier you start and the franker the discussion you can have, the greater opportunity you  will have to manage expectations and provide our son or daughter with practical advice that they will hopefully listen to.

Following these steps will help high school seniors select a school that is right for them academically and financially ,and will substantial increase the odds that they will land on their feet with a degree, a well-paying job, and student loans, if necessary, that are manageable.

About the Author John Hupalo

I am the Founder of Invite Education -- dedicated to empower families with information, tools and services to make better decisions to minimize/avoid debt while finding the best academic and social college fit.

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