I have not read Michael Baron’s article but plan to.  My advice is for both young people and parents.  I have pondered this for probably a decade.  I put myself through a four year university and now have 3 children between the ages of 18-24.  Generally the brain is full developed by age 25 (insurance companies know this quite well.) 

“Going away to college” is an old model that has evolved into a multi-billion dollar industry.  A small percentage of students will benefit if they need to strictly follow a four year curriculum to achieve their deeply desired goals (ie. medical, engineering etc.) Most 18-20 year olds don’t fit that description. 

Generally, “going away to college” prolongs parental dependency, slows maturity, and provides many distractions from studying, like partying, date rape, depression etc., in addition, to a lot of debt.  Historically people used to “go away to college” so that they could focus on academics.  But now, the “free for all,” mini-resort college atmosphere is more of a distraction. Many students come home on the weekends when they really need to study. 

I recommend a “gap year” where a young person works and explores their interests.  And/or attend a community college.  During high school, most students can save about $5-$10K and pay for their first year or two of community college.  Get the basics and keep a part time job.  This will help develop maturity and financial independence. If a student gets a 2 year degree, then colleges will recruit them to earn their Bachelors.  It’s not where you “begin” college, it’s where you “end.” 

For parents who want to give their children money for college, I recommend a reimbursement plan.  Let them pay for registration and the first course or first semester.  If they get a B or better, you pay for the next course/semester… and on and on. 

Sadly, many young people come out of college, self-absorbed without any work experience and deeply in debt.  Colleges do not teach a positive work ethic.  Parents and life experience do.