Keeping the faith in the "return-on-investment" of college

One of the ways MyNextPlay.org tries to help students and families is by shining a light on the trends and realities of college access in the U.S., and doing so by summarizing information from expert sources in a way that's relevant for aspiring college student-athletes and their parents. Note that we sometimes utilize — and always fact check — AI tools to help synthesize this information so it's contextually most helpful to students looking to play athletics in college.

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Education expert Paul Tough's New York Times article "American's Are Losing Faith in the Value of College. Whose Fault Is That?", provides an in-depth review of the widening "belief gap" American's hold when it comes to measuring the value of a college education. Below we've tried to summarize a few of the key takeaways and recommendations from Tough's piece for students (and their parents) evaluating their options after high school.

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2 key takeaways

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1. Faith in higher education is declining

According to Tough, public confidence in higher education as a guaranteed pathway to success is dwindling. Surveys cited in the article — notably that only 42% of Americans believe that college is a good investment, down from 60% a decade ago — reveal that fewer Americans now view a college degree as essential for financial stability. For student-athletes, this should make you pay close attention to this important decision. The low probability hope of a full-ride athletic scholarship can oftentimes blur the focus on a reality that the vast majority of college athletes pay to attend college. Given this backdrop of America's declining faith in the value of a college degree, it's crucial to understand how to evaluate the return on investment for the education you'll receive.

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2. Your financial equation

In his article, Tough digs into the skyrocketing costs of college education. Tuition fees have risen by more than 25% in the last decade, while the burden of student loans continues to expand for a majority of college students. Tough highlights that the average student loan debt for a college graduate is around $30,000. As a student-athlete, you may think athletic scholarships will shield you from this, but the reality is only a tiny percentage of college athletes receive funding that covers more than half their total cost of attendance. And remember, athletic scholarships are not only often partial, they are also non-guaranteed for all four years which means they can be revoked for various reasons, including injuries or performance issues.

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So with confidence declining, and the financial equation murky, what should a prospective student-athlete focus on based on Tough's review of the state of college education?

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3 recommendations

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1. Prioritize academics

Given the declining faith in higher education, it's more important than ever to choose a college that offers a strong academic program. Colleges with strong academic reputations often have more resources that support student success and enrich their educational experience. It's a virtuous cycle. This means as a high school student, your number one priority should be to do the best you can academically every semester. The better your GPA and test scores, the wider will be your set of options when it comes to putting together your target list of colleges to play at. This means focusing as early as your 9th grade year on the academic requirements for playing in college. (Go to the MyNextPlay.org homepage to find your way to the specific academic requirements)

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2. Think about return on investment ("ROI")

Tough's article highlights the financial pitfalls of not considering the full cost of a college education. As a student-athlete, you should scrutinize financial aid packages carefully. Go beyond the athletic scholarship money (if any) and look at other forms of financial aid, grants, and work-study opportunities. Calculate the total cost, including those hidden expenses that scholarships don't cover. This will give you a clearer picture of your financial responsibilities and lessen the amount of student debt you may need to take on. In addition, start thinking about the "return" side of the ROI calculation. This means thinking about different career paths you might be interested in pursuing, how much those careers will allow you to earn over your career, and the degree majors (e.g. STEM) that are most likely to open doors to higher earning careers for you after college. The more work you and your family can do to evaluate both the "investment" and potential "return" sides of the college opportunity equation, the better prepared you'll be for the journey. (Go to the MyNextPlay.org homepage to find your way to helpful information on the cost of attending college)

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3. Evaluate long-term career support

Finally, Tough hits on the importance of considering the value that a college degree provides beyond the four years you spend on campus. It's crucial to consider what kind of career support the college offers — this includes the quality and resources within its career services center, and how robust and active is the college's alumni network. Tough speaks to the notion that colleges with strong alumni networks often have higher job placement rates, which can be a significant advantage in a competitive job market. Overall, career-related resources can be invaluable as you transition from college to the next phase of your life, and they should definitely be factored into how you calculate the potential "return" you'll likely generate from a specific school over your post college years.

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Wrap up

Paul Tough provides a helpful assessment of the declining belief American's hold in the value of a college education. It's a complex issue, and for many the answer might be a vocational program or going to work, versus attending college. Ultimately, what it means for aspiring college student-athletes and their families is that it's imperative to approach the college decision with a "return-on-investment" perspective. By focusing on academic excellence, understanding the full financial ROI equation, and considering long-term career support, you'll be better prepared to make the best decision of where to attend — and play in — college.

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