Would you consider education an investment?

i want to go to school in New York City. It's the particular libral arts school that's highly accredited. It's called the New School University. I really want to move away and go to school their, not only for a better education but for a culture change as well.





In my future, I know I will be inheriting a little bit of money. And it will be enough to pay my student loans off, and then a little more.


i'm not saying this to brag, but I am scared to spend the money I will be getting in the future. Just because you never know what the future may bring. If I am to go to this school for 4 years, along with housing, I will be getting myself into some big debt. around 120 thousand. give or take a little.





do you think it's crazy i want to spend that much money on school?


i just want others opinions who do not know me, and can only judge me by my question.



I owe $135,000 from my four years in college....It is well worth it. I also own a house and make good money at the age of 22. The cost of college is intimidating, but it is a serious mistake to sell yourself short of getting the best education that you can.




Sure, education is expensive, but no education for most people is even more expensive. Imagine spending most of your life at the lower end of the work force because you don't have the qualifications for the promotion. That's a huge loss of money. Get the best possible education you can. There are a lot of good programs online today, have a look at some of those as well




Education can be important, and even necessary, depending on what you want to do. But honestly, I would caution you about taking on more debt that you can reasonably pay off with your income alone. Yes, your future inheritance may seem guaranteed now, but there are no guarantees in life. Have you taken into account how much of your inheritance might be lost to taxes?





Basically, my point is to not count your chickens before they hatch. $120,000 is a huge amount of debt for a four year degree in liberal arts. I know, that may not make you feel very good, but it's the truth. Most liberal arts jobs don't pay more than $30,000-$50,000 per year. A general rule of thumb is that you shouldn't take out more in loans than your expected yearly salary, so for a liberal arts degree, you probably shouldn't take out more than $30,000.





If you already had the money in hand, taxes paid, it would be another story. But how many years are you going to have to make payments on your debt before you get your inheritance? Will you be able to make those payments on your income alone while you wait for your money to come through? Obviously, you know the answers to these questions, and I do not. So I'm not telling you "do this, don't do that" - I'm just giving you my opinion and some things to ponder.





Basically, if I were in your situation, I would want to make sure that I could support myself, no matter what happens. Sometimes you can rely on other people, and sometimes you can't... but you never know which is which until it's too late. Make it easy for you to rely on yourself.