As parents prepare to send their children to college this fall, many may find that they are confused about college and their child’s career. Educational entities are not in the business of justifying the education you choose or finding your child employment once they send you the bill. So it is important to justify the education that children are obtaining and be realistic about the loans they receive to acquire it. Let’s talk numbers.

The average cost of a college undergrad education hovers around $35,000, (also add in the 8.5 % + on the loan). That’s not all. Bank on another $35,000 for the master’s degree before your child is able to actually rationalize the application of the first degree within the workplace; the cost becomes staggering.

Consider the trends! Most employers are requiring an undergraduate degree for any professional position. Any degree will do. Employers find that grads are using the revolving door technique; they come; they go. Grads aren’t happy; employers aren’t happy either. Recently interviewed college grads noted several alarming work habits they assumed after graduation, these are:

• Accepting multiple job offers; trying on one job at a time
  
• Leaving jobs within the first month or adopting the “one year” plan
  
• Failing to list short term jobs where they either quit or were fired on the resume

Employers are referencing asking new grads to leave: poor work habits and irresponsible behavior are noted as the two primary reasons. It is clear that our youth is confused about what they want to do and what is expected from them at work. All the while, loan default rates continue to rise on student loans to the tune of 5% on average leaving them with poor credit. Ouch!

For best results, consider these tips for guiding your child in the right direction in their career education and work life:

Prior to entering college - Are you a parent of a child who is undecided in their career?

• Hire a private coach expert in the area of career planning.
  
• Have your child create an interest list and interview professionals in those specific areas.
  
• Take your child to work with you; send your child to work with a friend.
  
• Have your child complete the MAPP (www.assessment.com) to get ideas on their values and interests.

During the college experience

• Identify a part-time job in the vocational discipline for the first semester, going to school at night in a general area of study.
  
• Arrange loads of informational interviews within the discipline of interest in a variety of environments throughout the tenure.
  
• Find them a mentor in their field of interest.
  
• Create a mock budget of what they will need to make to justify the education expense, inclusive of the college loans payouts post graduation.
  
• Insist on an equitable relationship regarding house chores, paying certain bills, etc. This also assists in developing the accountability/dependability quotient required by employers.

After under-graduate work

• Suggest your child interview heavily and not accept the first job offer.
  
• Find employers in their field willing to pay any new tuition for additional degrees as they work.
  
• If you have agreed to pay off the original undergraduate loan, insist that your child pay 100% of the master’s degree loan. It may just change their choices.

All parents want the best for their children. By considering these tips, you may just prepare them well for their career and the new world of work.