Do parents have a say in a child's college major? Duh ...

Choosing a major in college:  Do parents get a say?  I read this naive article in the Washington Post last night and almost busted a gut laughing at the stupidity of even asking such a question.  The simple answer in my house?  If I pay for it,  I determine the outcome.  No debate.  No discussion.  Case closed.

I just recently finished paying for one child's college education,  and here's the deal I structured.  There's $160 K available to pay for your college education.  There are strings attached to the money.  You can select the college.  You can draw on that pot of money only for Tuition/Fees,  Room and Board.  You pay for books,  and all other costs.  Provided your degree is in Accounting or Engineering,  you keep any money left over after earning your degree.  No Accounting or Engineering degree?  Then I expect to be paid back every dime.

Harsh?  Not at all.  Think about what options I presented my college bound child.

Private vs. Public.  I am not a big fan of private colleges.  There is simply no justification for the gap in cost between private and public.  And I speak from experience,  having attended both private and public universities for undergraduate school,  and gone to Harvard for a graduate degree.  It does not make common sense to pay $40 K annual tuition when very good public schools only cost $7 to $10 K.  It's money thrown out the window.   But,  I want my child to hear my opinion and make their own decision.  In giving them enough money to pay for a private school,  but allowing them to pocket the difference if they attend a public school,  they have the incentive to put significant thought into this issue.

Choice of degree.  Most parents have a negative reaction to my dictation of the type of degree my child will earn.  Baloney.  There's enough money there that if my children want to study basket weaving,  it can happen.  Get a minor.   Go for two degrees.   But a degree in either Accounting or Engineering ensures marketability to employers for the initial job.  If they want to be a basket weaver later in life after getting their feet on the ground after college,  that's their decision.  But getting that first good job is the scary hurdle that must be cleared.

Outcome?

My first child chose wisely.  He went to a public school and just recently earned an Accounting degree.  Cost?  Relatively inexpensive:



He graduated with ZERO debt and a little over $100 K of our college pot in his pocket.  Teamed with earnings from numerous jobs he's held throughout high school and college,  he has almost enough to plunk down cash for a nice starter home.  More importantly,  he has a marketable college degree,  multiple job offers,  a solid work ethic,  and a head full of common sense when it comes to making financial decisions.

The question that naive article in the Washington Post should have asked?  Why aren't parents using common sense in advising their children about the choice of college degrees?