Investing in College: A Guide for the Perplexed [Hardcover]

Malcolm Getz (Author)

Book Description

ISBN-10: 0674024648 | ISBN-13: 978-0674024649 | Publication Date: March 30, 2007

College education is one of the most important investments a family will make. But between the viewbooks, websites, insider gossip, and magazine rankings, students and their worried parents face a dizzying array of options. What do the rankings really mean? Is it wise to choose the most prestigious school a student can get into? What are the payoffs of higher education, and, by the way, how do we pay for them?

In a unique approach to these conundrums, an economist and award-winning teacher walks readers through the opportunities, risks, and rewards of heading off to college. Warning against the pitfalls of numerical rankings, Malcolm Getz poses questions to guide a student toward not necessarily the best college but the right one. Famous professors suggest quality--but do they teach undergraduates? Are smaller classes always better? When is a state university the best deal around?

In a concise overview of decades of research, Getz reviews findings on the long-term returns of college education in different careers, from law to engineering, from nursing to financial management. Sorting through personal, professional, and institutional variables, he helps families determine when paying $40,000 a year might make sense, and when it merely buys an expensive rear window decal. He breaks down the formidable admissions game into strategies to improve the odds of acceptance, and he offers tips on tax breaks, subsidized loans, federal grants, 529 accounts, merit scholarships, and much more.

Shrewd and sensible, Investing in College is an invaluable resource and a beacon of sanity for college-bound students and the families who support them.

Editorial Reviews

Review

This is one of the most sensible guides to the college admissions process ever written, with a grasp of the money issues that no previous guide has had. Parents who worry about the rising price tag of college, who wonder what they are getting for their dollar, who want to know if College X is a better buy than College Y, will find Getz's well-supported arguments and data wonderfully revealing. But beware: he proves that for some of these good questions, there are no good answers, unless you are clairvoyant and can predict exactly what your child will be doing ten years after securing that expensive degree.
--Jay Mathews, author of Harvard Schmarvard: Getting Beyond the Ivy League to the College That Is Best for You

About the Author

Malcolm Getz is Associate Professor of Economics at Vanderbilt University.

Product Details

• Hardcover: 304 pages
• Publisher: Harvard University Press (March 30, 2007)
• Language: English
• ISBN-10: 0674024648
• ISBN-13: 978-0674024649
• Product Dimensions: 8.3 x 5.7 x 1.2 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,510,565 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

5 of 5 people found the following review helpful:

5.0 out of 5 stars A Must-Read for Parents and High School Students, March 26, 2007

By 

Tennessee Prof (Nashville, TN United States) - See all my reviews

This review is from: Investing in College: A Guide for the Perplexed (Hardcover)

This book offers a very unique angle to the college selection process, like no other college guide book I've read. It helps families identify and integrate all the different pieces of information that go into the final decision (like rankings, financial costs, the quality of specific programs of interest) and helps weigh these different factors intelligently in terms of importance and eventual financial payoff. I've recommended it to all of my friends and coworkers with college bound teens. It's an easy read, too.

7 of 8 people found the following review helpful:

5.0 out of 5 stars Deserves much more readership, May 25, 2007

By 

Dr Cathy Goodwin (Seattle, WA USA) - See all my reviews
(VINE VOICE)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: Investing in College: A Guide for the Perplexed (Hardcover)

As a career consultant, I work mostly with professionals who are midlife and mid-career. Those with children often take for granted the need to "invest" in their children's education, often sacrificing their own lives, careers and retirement.

As a former college professor and holder of multiple degrees, I enjoyed the experience of high quality universities. But I agree with the author's premise: students and their families often over-invest in college, believing that they can buy their children's future happiness. Recently I talked to a woman in my gym, visiting from another state, whose daughter was agonizing over a choice among 3 lower-tier colleges. I wanted to tell her, "Choose the cheapest and frankly, you're just as well off at a state university."

I couldn't say this. Fortunately, Getz can and does. He's very realistic about what you get for your investment in college dollars. He's got some of the best advice for choosing a college, such as, "Don't get overly enthused about small classes." He notes (correctly) that the percentage of part-time faculty can influence the quality of education at a university - something few non-faculty folks will realize.

I'm impressed that Getz recognizes the role of athletics on post-college success. Athletes tend to be achievement oriented, confident and likeable. They may get lower grades but they have qualities that are valued by most of the world and that are rewarded with real dollars.

Of course, no book can include everything. Getz notes the value of high achieving peers, who can be found at competitive universities. At my own highly competitive undergraduate institution, these peer relationships sometimes backfired. Some high achievers coast through college (having experienced awesome high schools). Others have high intensity problems as well as achievements. Most important, some students become intimidated by competition and never achieve their potential.

Second, I've never talked to anyone who considered the alumni association when choosing a college. But let's face it: you spend 4 or 5 years as a student and a lifetime as an alum. Because I attended a New York college, my reunions took place in the Big Apple -- always a treat. But for some reason, my alumni association never offered practical help for mentoring and networking. Today's alums might be different. I'd definitely take a look at alums and make a point of talking to some.

Finally, I am impressed with the students Getz met. They seem to have a strong sense of who they are and what they need. Many students I met as a student and teacher were far less confident and self-aware.

Definitely I would recommend this book to any parent who's looking at a very expensive college investment. It's nice to have a book that respects the value of education but maintains perspective. Once you graduate and get out in the "real world," you find the real achievers come from a diverse range of universities...and some from no university at all.