Is Post-Secondary Schooling STILL a Good Investment?

Before we get into helping students with some day-to-day financial tips, the bigger question that really needed to be answered in our newly released book – More Money for Beer and Textbooks – is should you even bother going to school at all anymore?  After all, every time you open the newspaper or turn on the evening news there is another story about a specific graduate that has a BMW-worth of student debt, yet has no job prospects right?

The bad news for today’s students is that it does cost more to go to school than ever before.  This is especially true for a university education.  It isn’t your imagination guys, by any measurement the cost of a post-secondary education today is substantially higher than the one your parents and/or grandparents received.  Don’t listen to their stories about ten cent chocolate bars and be fooled.  The prices involved with education have outpaced general inflation by a large margin over the past few decades.

The good news for the students of today, and those of tomorrow, is that a post-secondary education is a still a pretty damn good deal.  Our book takes a serious look at what gives you the most bang for your buck in today’s educational market.  Regardless of the path you choose though it won’t be cheap.  To put it in investment terms, it will be an investment that pays huge dividends later on (and a dividend that is almost guaranteed to grow if you make a few key choices), but it is a sizable outlay of capital (re: mad cash) upfront.

In order to prove to the haters out there (ok so personal finance sites probably don’t have many “haters”… the attempt at trying to sound hip still stands) that we large legit, we decided to release a sneak peak of the first chapter of More Money for Beer and Textbooks over on our sister site My University Money.

Click Here to See Chapter 1 for Free!

If you’re a harder sell that just a fancy URL link and an exclamation mark, the chapter takes an in-depth look at the costs associated with various types of schooling across Canada today.  We also present some hard data on the types of challenges students today are going to see after they leave they leave their protective high school cartoon.  The numbers concerning student debt and how quickly that debt has escalated might of particular interest to current high school students and their families.

I wouldn’t be doing our book justice if I didn’t point once again that there is nothing like More Money for Beer and Textbooks on the market today, and that you can zip over to Amazon.ca and pick up a copy for yourself, or a copy for a special young person in your life.  Don’t go into the challenge of attaining a post-secondary education in Canada blind.  Instead, give yourself every advantage in the the battle to get your degree, diploma, or certificate without falling into a pit of crippling student debt – read the the free chapter and then buy More Money for Beer and Textbooks today!

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Oh, and don’t forget about our giveaway this week! What’s the point of writing a book if you can’t be a little vain and give away a few FREE copies right? In addition to wanting to reward our loyal readers, we are obviously trying to maximize our modest marketing budget and are asking for your help in spreading the word about this great new resource.

To qualify for our draw, simply fill out the form below and then set about getting as many entries as you can.
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About Kyle Prevost

Kyle is a high school humanities teacher by day, and freelance personal finance author by night. He has been published in academic journals, and has also co-authored the book "More Money for Beer and Textbooks". In his free time Kyle likes to limp up and down a basketball court and pretend to be a tough guy in a boxing ring.

10 Responses to Is Post-Secondary Schooling STILL a Good Investment?

  1. Both of my sons will both graduate with 40k in student debt. That is what happens when you are raised by a lower income single mother.

    They have both selected courses of study that will help them to get jobs but it will still take them years to pay off their debts and I will continue to feel guilty because I have not been able to help them as much as I have wanted to.

    • Teacher Man says:

      Jane, I honestly don’t think you should feel guilty. School costs have outpaced inflation by a large margin over the last few decades. Student debt is a widespread reality. However, this book really does have some excellent suggestions for cutting costs down. I’ve been recommending it to the students at my school big time.

      I’m sure being a single mother has challenges that I can’t even become to fathom. Kudos to you for taking on those challenges every day.

      Would you like a complimentary copy of the book to review for your site (and maybe pass along to your boys)?

      • Phil says:

        Hindsight is unfortunatelt 20/20. Early planning and instilling the value of selffulfillment to our younger generation is required here. i went to University, engineering actually, and paid all but first term on my own. My parents told me early in highschool, that they would help me get there, but that i would need to keep myself there. I carry 2 jobs throughout high school in preparation for MY costs of post-secondary educationas a bonus my parents paid only my first term, because of my hard work to save for MY future. Throughout university instead of partying and kick’in it on campus with roomies, i worked my ass off carrying 3 parttime jobs to eventually come out debt free and into the real working world. It is not the parent that should be burdened with the bill. parents should support where possible, but it is far more benificial in the longrun that those going on to post secondary education take this lead. If I had not done what I did, I would not have the life I have today. Today’s young people must just suck it up and understand that entitlement is dead and empowerment should be the new thought of the day. So kudos Jane for what you have done for your boys, but in the longrun your boys may not have learned the hard lesson that they must lead their own destiny. As an aside, my wife qualified for interest-free student loan money to go to school, but instead of taking the easy road, she too, worked 2 jobs in university and invested the loan money – when she graduated, she actiually had a positive balance :) – Cheers.

        • Teacher Man says:

          Cool story Phil. We’ve got an article on our other site about the morals involved with using student loans for investing and it’s quite a popular argument back and forth. I hear where you’re coming from and I think we agree about 90% of the way with each other. I don’t think that parents are robbing their

          Anyway, there is quite a bit in the book about choosing a career path like engineering, and how to put money in your pocket and keep it there as you go through school. I imagine you’d be a big fan of the personal responsibility and empowerment it encourages.

          Also, I’m not sure when you went to school (maybe fairly recently) but keep in mind that school costs have exploded at much faster the rate of inflation. That’s not student union propaganda (which I hate), but basic math.

          • Phil says:

            Graduated in 1997, and at the time tuition for engineering was approaching $4,000/yr + ~$1300 for books and other supplies. Basic living expenses for the year was rent at $450/mth, food at $50/wk, and other expenses at ~$200/mth so total for each year of $15,500 – I’ve always been a tracker of expenses… My first engineering job paid me $32,500 + a nice Xmas bonus of $2,500 since it was a private company I worked for. My last working job paid me with all benifts and such in 2011 when I stopped working $86,000. My personal investments now make me about $40K net a year, and with my wife still working, I have decided to remain an at home dad (@40) to enjoy my life and enhance my families lives – Cheers.. You are correct in your statment math matters, but so does learning empowerment early. – Cheers.

          • Teacher Man says:

            That sounds awesome Phil. I routinely recommend engineering to people (any kind!). Kudos to you for obviously making some smart decisions. On the other hand, 1997 is a long ways off in terms of education costs for today’s students right? I hope to be in your shoes around 45 (I don’t think I’m quite frugal enough to make 40, but we’ll see where my career goes)!

  2. Bet Crooks says:

    Yes, post-secondary education is worth it. The trick is picking what kind. I see parents pushing kids into university who frankly shouldn’t be going there. If you’re not an A to A++ student, I seriously doubt you are university material. The worst possible thing financially is to go to university for a couple of years and fail out. Your self-esteem plummets. You’ve lost touch with friends who will be on a more similar financial footing for the next few years. (The ones who went to college and into trades.) Your uni friends may not feel comfortable with you since they are still motoring ahead. And unless you’ve worked very hard or have very rich parents, you’re in debt. There are many kinds of post-secondary education. Picking the one you can succeed at should be a primary goal.

    Anyway, congratulations on the book and best wishes for its success!

    • Teacher Man says:

      Haha Bet, your preaching to the choir with this one! The final chapter of the book takes a look at choosing the right post-secondary option for you in terms of personal fit and looking at today’s job market. Thanks for the congrats.

  3. Bet Crooks says:

    Sounds like you’ve covered everything. I’ll have to loan a copy to friends with an “accidental” postit on that chapter…. : )

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