Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
  • More
    • Podcasts
    • Economic Outlooks
    • Tools
  • My Kiplinger
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
  • Home
  • personal finance
  • careers
  • college
college

9 Key Practices to Make College Pay Off

One of the biggest investments families make is the money they spend on college. Here are nine things college students should do during their school years to help ensure the best return on that investment.

by: Adam Weinberg, President of Denison University
January 7, 2020

Getty Images

Many parents and students wading through college applications are experiencing sticker shock. Couple that with 44 million Americans owing $1.5 trillion in student loan debt and anyone can see why there are growing concerns about the cost and value of a college education.

But there is consistent and compelling evidence that earning a college degree still remains the best path to improve one’s job prospects. It’s a fact that college graduates earn on average 84% more over their lifetimes than high school graduates.

The question is not whether college is worth it but rather, how do students get the most from their investment, especially with an eye toward building a post-college career?

I believe families need a road map. Let me offer nine essentials for maximizing the return on your tuition dollars.

Written by Adam Weinberg, the 20th president of Denison University. He previously served as president and CEO of World Learning, one of the premier international education, exchange and development organizations, and as vice president and dean of the college at Colgate University, where he was a member of the sociology department for more than a decade.

  • 10 Best College Values With the Lowest Average Graduating Debt, 2019

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

1 of 9

1. Embrace academic courses

Getty Images

Whether studying Shakespeare or statistics (or hopefully both), academic work must be the centerpiece of any student’s college experience. It may seem like simple advice, but far too many students take the path of least resistance and/or take classes in one narrow corner of the college. This is the time to be rigorous. Sign up for a wide range of challenging classes and take advantage of being fully engaged in each of them. Find joy and power in the books you read, the classes you attend and the papers you write. This should be priority one.

 

  • 10 Financial Commandments for Your 20s

2 of 9

2. Choose co-curricular activities wisely

Getty Images

Co-curricular activities, like student organizations, student government, campus newspapers, athletics and arts organizations, offer fun and learning, but students tend to get overly involved or not involved at all. Get involved in something you are already interested in, and stretch yourself by pursuing a new interest. Remember, learning comes to those who value depth, commitment and excellence — not just keeping busy.

 

3 of 9

3. Make room for cultural and intellectual events

Getty Images

Lectures, plays, concerts, art openings and panel conversations are just a few of the extraordinary events that fill college campuses. Too many students don’t take advantage of the range of cultural and intellectual events to expand their minds, imagination and world views. In particular, attend events that will challenge your existing opinions and tastes. This will prepare you to excel in the world of work as well.

 

  • 20 Best College Values in the U.S., 2019

4 of 9

4. Explore careers early

Getty Images

College should help you develop ideas for the kind of life you want to live, give you an understanding of how careers allow people to build lives and help you acquire the skills, values, habits, networks and experiences to successfully get started post-graduation. Use three of the suggestions above — courses, co-curricular activities, and campus events — to examine unfamiliar topics and identify your interests and passions. Also, visit your career service center early (don’t wait until late in your senior year) and get to know some alumni. They are the ones that may give you jobs later. Seek out internships and other career-related programs. Study abroad for a semester. All of this is critical in the era of globalization.

 

  • 25 Best College Majors for a Lucrative Career

5 of 9

5. Develop a wide set of friendships

Getty Images

College campuses represent one of the few places in the country where people are living across class, race, ethnic backgrounds, political ideology and religious views. Proactively seek out friendships across differences. Learning to read cultures and/or work in diverse teams is a 21st century skill across the professions. In class, if someone expresses a view that makes you uncomfortable, ask them out for coffee. Your ability to learn from those who see the world differently and/or resolve conflicts will serve you well in your work life. You’ll be surprised by what may unfold.

 

  • 10 Money Mistakes Millennials Should Avoid (No. 10's a Shocker)

6 of 9

6. Take advantage of mentors

Getty Images

A close relationship with a faculty or staff member is one of the strongest predictors that college will be life-transforming for a student. Find faculty and staff who will provoke and inspire you on a path of personal growth, learning and self-discovery. Don’t view them simply as taskmasters. Connect with those who push your potential. Their recommendations could make the difference early in your career.

 

7 of 9

7. Cultivate good life habits

Getty Images

Start with sleep, nutrition and exercise. Then work to build additional habits that will allow you to thrive in college and beyond. Reduce time on social media and spend more face-to-face time with friends. Consider learning some mindfulness techniques, like yoga, meditation and journaling. Many colleges offer classes and students are using apps like Calm, 10% Happier and Headspace. Figure out what keeps you healthy. College is a place to learn the habits to manage and thrive in a busy, competitive and challenging world. And it will make you a more valuable and productive employee or entrepreneur.

 

  • 21 Ways for College Students to Earn Extra Cash

8 of 9

8. Learn to fail forward

Getty Images

Your college experience will have struggles and stumbles. When things don’t go well, it may be easy to believe that everybody else is succeeding while you are not. It’s not true. College is about growing as a person. Failing is a normal, healthy and positive part of growth. Effectively dealing with failure will help prepare you for the inevitable ups and downs of a career. Find faculty, staff members and peers who can help you learn from the experiences. Most of all, try again.

 

  • 12 Things Every College Student Needs From Costco

9 of 9

9. Get your hands on tools of the trade

Getty Images

Lastly, become an expert in the tools of the trade. They will enhance your résumé. If you want to go into finance, learn to work on a Bloomberg Terminal. If you want to go into the health sciences, develop lab skills. Seek out opportunities to learn database design and other industry standard software. Everybody should learn Excel.

Employers tell us that they want well-rounded prospects to hire, people who have demonstrated rigor, have broad experiences and solid coping skills. Parents are constantly told to relax the reins when it comes to college. But you watch and tend to your other investments. Why stop now?

With encouragement and attention to this road map, your college investment will pay the dividends you expect — and deserve.

 

  • The 4 Legal Documents Your College-Age Child Really Needs
This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Contributors

Adam Weinberg, President of Denison University

University President, Denison University

Adam Weinberg is the 20th president of Denison University. He previously served as president and CEO of World Learning, one of the premier international education, exchange and development organizations, and as vice president and dean of the college at Colgate University, where he was a member of the sociology department for more than a decade.

  • careers
  • college
  • family savings
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn

Recommended

President Biden Extends Student Loan Relief
Coronavirus and Your Money

President Biden Extends Student Loan Relief

One his first day as president, Joe Biden continued the suspension of student loan payments until October.
January 21, 2021
Biden Proposes $15 Minimum Wage
Politics

Biden Proposes $15 Minimum Wage

As part of his $1.9 trillion economic stimulus package, President Biden proposed an increase in the federal minimum wage.
January 20, 2021
12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket
Coronavirus and Your Money

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket

President Biden's "American Rescue Plan" includes several proposals to assist people financially harmed by the pandemic.
January 20, 2021
Starting Your Own Law Practice? Here’s How to Fail
careers

Starting Your Own Law Practice? Here’s How to Fail

Take it from Elizabeth Miller, co-author of “From Lawyer to Law Firm, How to Manage a Successful Law Business,” this is what you should NOT do when se…
December 31, 2020

Most Popular

When Could We Get a Third Stimulus Check?
Coronavirus and Your Money

When Could We Get a Third Stimulus Check?

President Biden and others in Congress are pushing for a third-round of stimulus checks, but it might be a while before we get them.
January 20, 2021
Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer
Coronavirus and Your Money

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has an online tool that lets you track the status of your second stimulus check.
January 18, 2021
The Recovery Rebate Credit: Get Your Full Stimulus Check Payment With This Tax Credit
Tax Breaks

The Recovery Rebate Credit: Get Your Full Stimulus Check Payment With This Tax Credit

If you didn't get a stimulus check, or you didn't get the full amount, you may be able to claim the recovery rebate credit on your 2020 tax return.
January 18, 2021
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Dennis Publishing Ltd logoLink to Dennis Publishing Ltd website
Do Not Sell My Information

The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.
All Contents © 2021, The Kiplinger Washington Editors

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube