DAVE RAMSEY

Dave Ramsey says: A degree isn’t power, knowledge is power

Aug 15, 2023, 1:00 PM

pencil with words "love to learn" on it...

(Unsplash Photo)

(Unsplash Photo)

Dear Dave,

I’ve heard you talk about paying for college for your kids. Why is this a requirement? I’m not trying to shirk my responsibility, but I worked my way through college and so did my parents. My wife and I have talked about paying for their books and maybe rent. Am I missing something here?

— Thomas

Dear Thomas,

First, I don’t believe it’s a requirement that all parents pay for college for their kids. It’s not a moral issue, and you’re not an immoral person if you don’t or can’t do it. I’ve told plenty of single moms, single dads and parents who don’t earn a big income that their kids need to apply for as many scholarships as possible, learn how to work, and choose an inexpensive school if they want to continue their education.

As a parent, one of your biggest jobs is to give your kids a moral compass and the tools they’ll need to succeed in the real world. And one of the keys to being a successful adult is engaging in a lifetime of learning. If the last time you read a book was when you were in high school or college, and you’ve never done training of any other kind since, you’re probably not very successful. Never. Stop. Learning. If I’d stopped learning after getting my bachelor’s degree, do you think I would’ve been able to build Ramsey Solutions? Absolutely not!

Do you see where I’m going with this, Thomas? As an adult, learning is your job. An entire lifetime of learning is your job. And if you can encourage that in your kids with some level of help, financial or otherwise, then it’s your obligation to help them. You can’t expect a 17-year-old to figure it all out. They don’t have the tools yet.

The point is this: You don’t have a moral responsibility to pay for your kids’ college education. You do, however, have a moral responsibility to highlight the importance of knowledge, share what you have, and show them how to get more. If you can’t afford to help with money, do everything else you can. There are plenty of more important things than cash. If you want to help financially, that’s fine too.

Just don’t use debt to make it happen!

— Dave

Dave Ramsey

tape being used to close box...

Dave Ramsey

Dave Ramsey says: What’s fair to everyone concerned?

Before you make promises you can't keep, you should be thinking months ahead so that you aren't walking back on your word.

15 hours ago

people sitting at table and looking at the computer...

Dave Ramsey

Dave Ramsey says: Here’s how to handle a small-business budget

You’ve got to project into the future and think about what you’re going to do and how you’re going to make it happen.

3 days ago

dave ramsey gives advice regarding life insurance policies...

Dave Ramsey

Dave Ramsey says: Opt for the long-term plan, not the short-term fix

In this week's letter from Dave Ramsey, he gives advice to people who have elderly parents without life insurance policies.

8 days ago

woman with book on her head...

Jade Warshaw

Dave Ramsey says: Here’s a new kind of student loan forgiveness

Millions of Americans will be required in October to begin making payments on their student loan debt, but are they financially ready for the new reality?

10 days ago

windshield broke...

Dave Ramsey

Dave Ramsey says: Take the bigger check, it’s quick and easy

If your vehicle has been damaged and you're left with options to claim money to put toward another car, here's what's best.

15 days ago

Follow @DaveRamsey...

Sponsored Content by Schwartz Laser Eye Center

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.

Sponsored Articles

...

SCHWARTZ LASER EYE CENTER

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.

Home moving relocation in Arizona 2023...

BMS Moving

Tips for making your move in Arizona easier

If you're moving to a new home in Arizona, use this to-do list to alleviate some stress and ensure a smoother transition to your new home.

...

Mayo Clinic

Game on! Expert sports physicals focused on you

With tryouts quickly approaching, now is the time for parents to schedule physicals for their student-athlete. The Arizona Interscholastic Association requires that all student-athletes must have a physical exam completed before participating in team practices or competition.

Dave Ramsey says: A degree isn’t power, knowledge is power