Wrapping up 2022- Trends in 2023
It’s that time of year. We assess the past year while making plans for the next one. So let’s join the crowd and take a moment to review 2022 and what to expect in 2023.
2022- We won’t be going back. Ever.
There was some thought in early ‘22 we might do a lot of Back to the Future. You know, return to the office, return to in-person college, return to pre-pandemic ways. Not so fast. Apparently, not all pandemic-induced hacks for working/ schooling/ living are so bad.
Since this blog focuses on all things college- attending, not attending, paying for, and looking for deals, let’s focus on this arena.
A. College attendance is down across the board - Both spring and fall 2022 enrollments in colleges and universities are down. There’s been no “ yeah, let’s go back to college now that the Covid pandemic is waning.” If I were consulting with any college and university, I’d say move on about this issue. And, declining enrollment is now a statistical reality that arrived about 6 years sooner than expected.
B. Awaiting the Supreme Court ruling on the $10k forgiveness of college loans. I will NOT pretend to read the minds of the SCOTUS; you need to know they are on hold to hear oral arguments in February 2023, with an expected ruling in late spring or Summer of 2023. Most legal pundits are indicating it is not likely to succeed. I mention this here to encourage you NOT to hope or expect this to be done any time soon.
College Tip: Plan to fund college without hope of any “forgiveness” funds in the wings.
C. Options Abound for your Student outside of Ivy-laden buildings I sense a real awakening for many that college is not the only path to a good life.
Do I believe in a college education? Yes, if you will work for it, do it on the cheap, and not put yourself in outrageous debt. Yes, if it advances your career plans and your natural gifts. Yes, if you are genuinely interested in this type additional education.
But, No, if you have no idea who you are or what you like, or what you want to do. No, if it will drag you into debt of $8,000 per year or more for the degree. No, if you hate every minute of it.
Today, you can get a solid restaurant job or two, live at home, work, and save money. Do that for two years, attend a community college, and you can transfer to a University debt free for your final two years. This type of process is available in a large number of states across our country.
D. Do College with an eye towards No Debt. If you want a better life, be disciplined about it NOW.
Discipline about Debt- work and save before attending, work during school.
Discipline about School- do the work, make the grades, and stay on top of it.
Discipline about your Learning Path- choose your major well and don’t change it often- too expensive!
Education today is a lot like a toll road these days. It’s smooth sailing, and it looks like you are passing everyone else. Then, the bill comes due. In life and in education, consider the toll-free lanes, the backroads, and the shortcuts. Easy and smooth often has a terrific price tag attached.
May your 2023 be your best year yet!
Until Next Time,
All My Best,
Bonnie Burkett
