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<p>Why does someone need to go to work at 21? What is the benefit of that, rather than going at 22, if the parents can afford it?</p>
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<p>I think it’s more realistic to say that he just wasn’t ready to “have a life” at college. Now he is ready.</p>
<p>i would have him go through with the internship, see if it leads to a job offer. then finish the math and actuarial degrees and interview for jobs upon graduating, if he finds a job, then go with it. if not, then keep going to school for the econ degree as well.</p>
<p>if he gets a job, his employer might be willing to pay for the econ degree. could he graduate with the two degrees and then go to grad for econ. lots of grad degrees are financed by the school with scholarships and a stipend aren’t they?</p>
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<p>At almost every university, once you’ve graduated, you’re done. You can apply for grad school, but you can’t go back and get an econ degree. If he wants to go to grad school in econ, he should get an undergraduate degree in econ.</p>
<p>No matter how you look at it, it’s better to stay another year and get the econ degree. It opens up all kinds of possibilities. Once you graduate, you limit your options.</p>
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I thought so. Takes one to know one! Also, everytime one of my kids comes up with a “plan” I spend an inordinate amount of time wondering if I am being “had”. haha.</p>
<p>He is a Math major and understands numbers. Have him crunch the cost/benefit of another year of college. It costs $24,000 plus a lost year of salary. Have him crunch 10% of his one year (future) salary and what his retirement return on that would be. For fun of course.</p>
<p>Now, back to reality, since you would be paying the $24,000 it really won’t cost him anything. He needs to understand that someone is paying that $24,000. Can he stay at Michigan and work on his Master’s there? He can still live with his buddies.
Just make sure that he isn’t afraid of leaving school.<br>
The bottom line is he doesn’t need that Econ major to get a graduate degree in Economics.</p>
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<p>What kinds of possibilities? An econ degree is not going to open any more doors than 2 math degrees already. The son wants to stay another year to enjoy himself, pure and simple, which is fine. The cost isn’t just 24,000, it’s that and possibly 50,000+ at his first job as an actuarial student. I would personally rather take that $24,000 to travel around the world rather than staying at Michigan.</p>
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<p>For one thing, it opens up the possibility of graduate school in economics, either immediately after graduating or later on. It also would make him more attractive to employers in fields like management consulting, investment banking, etc.</p>
<p>He can be an actuary for the next 40+ years, if he so chooses. I don’t see how at age 21 he needs to start earning money, if his parents can afford to send him to college for another year.</p>
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<p>Do you need an undergrad degree in economics to go for a graduate degree in economics? I know that this isn’t true for Computer Science.</p>
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<p>No, you don’t need an econ degree to get into any of those fields. You could be an English or Philosophy major.</p>
<p>Tough one. If it were my son I’d be encouraging wrapping up the BA/BS and take the 5th year to work on a master’s degree or instead of 3 majors, turn one into a minor and finish in 4, get a job and then work on a master’s.</p>
<p>Cornell PhD program:
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<p>Just because a degree in economics isn’t a requirement, that doesn’t mean it wouldn’t be extremely helpful. You need letters of recommendation, advanced coursework, independent research, etc. to get into a top economics program. Another year will also help him decide what he really wants to do. </p>
<p>I just don’t understand why this kid has to go earn a living at 21. It’s like you all want to punish him for his accomplishments.</p>
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<p>1) This student seems to just want to get the third degree for enjoyment.
2) Is this student in a top economics degree program right now?
3) I don’t believe that there was any interest in a graduate economics degree
from the student - it was suggested as a way to get a degree in economics
4) I see no indication that the student wants to get into a top economics program</p>
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<p>Do you know what slippery-slope arguments are?</p>
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<p>Do you:</p>
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<li>Have a graduate degree in economis?</li>
<li>Work in IB?</li>
<li>Work in management consulting?</li>
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<p>I know. 20 year olds are supposed to have everything figured out. They are supposed to enter college at 17 knowing exactly what they want to major in. There should be no room for exploration, no room for anything. They should be in the work force by 21, earning a living. </p>
<p>I’m surprised you aren’t berating this kid for not graduating in three years. Think of the lost income from his senior year. He could be working as an actuary at 20. Think of the lost income!</p>
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<p>OP, it’s pretty clear from what you’ve posted that your heart wants your son to do the extra year. If money is a non-issue, there’s no harm in his plan. If it WILL affect future plans, that’s something both you and your son should consider carefully. Grad or professional school, help purchasing a first house, or support for a new business might all be things you’d consider giving to your S. Only you can know if these are things you’d consider, or if you could not afford these AND a fifth undergrad year.</p>
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<p>Clearly you don’t from your post.</p>
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<p>Some clearly do. Some don’t.</p>
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<p>They are? I guess I missed this in the college catalog.</p>
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<p>Well, I’d say that a double-major allowed for a lot of exploration, no?</p>
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<p>Well, I was in the work force at 14 so I may be a little biased. But it seems that you’re one that advocates an elongated childhood.</p>
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<p>Is there a particular reason as to why you are so bitter?</p>
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<p>How is graduating college at 22 with a professional credential an “elongated childhood”?</p>
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<p>I wasn’t replying to your rhetorical question about what “slippery slope” is. That’s completely irrelevant to this young man’s situation. He completed a major in one field, got a professional credential in a second, and would also like to explore a third, economics. I think we should encourage the intellectual curiosity of young people. That’s why I think it’s good for bright young people to go to college.</p>
<p>There is nothing wrong for OP’s son wanting to stay another year if OP could afford it. Some of us are just saying a third degree in economics is not going to do anything for the kid’s future. If OP’s son had an English major, but could get an econ or CS degree by staying another year, then there is a better argument to stay another year. There are kids who use that extra year to travel to volunteer. If OP is from a rural area, why not use the money to see the world. No one is pushing the son to work right away. OP asked if it would be worth it to stay another year to get a third degree in econ.</p>
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<p>Look up slippery slope.</p>
<p>I vote for letting him stay. He has held up his end of the bargain by keeping his scholarship and performing well in school and at the worst, he should be able to get a job as an actuary.</p>
<p>This is his only chance to get the degree he really wants and if he is willing to take out loans to cover the costs that were covered by the scholarship, I say let him do it.</p>
<p>It depends on your financial situation. In our case, it would hurt all of us in the family financially. I’d love to do it, but with three other kids in college, it just is not a good use of money. I would tell my son in a similar situation to get his degree and look for a graduate course or night school course where he could take those other courses. But if you can comfortably swing, it I think education is a great use of money. I only wish I could provide something like that.</p>