Consequence Of Changing Major In College

Recently, a good friend and I were chatting and she was telling me about her brother who was a “career student”.  It reminded me of an interview with had with Jeff Morand, founder of JP Morand & Company back in May 2010.

Our discussion was “everything college” which led to the topic of students changing majors mid way through college.  USA Today covered this topic as there is a growing trend of incoming freshman graduating after five to six years instead of four.

According to Jeff, a member of the National Institute Certification College planners, students can spend as much as $15,000 or more on top of their full tuition as a result of changing their majors mid way through their college years.

Here is what Jeff had to say:

“Often students, young people don’t know what they want to do when they grow up.  They don’t know what they ultimately want to become.  Changing majors is certainly okay but yet if we go back to that last piece of the College Planning Wheel, how they pay for it if we know we’re falling into that 5^th year or worse, you have that 6^th year, how expensive that is.

So continuing for a Masters like you have or continuing for other advanced degrees is common but yet, what we’re referring to with these statistics and what USA Today is referring to with these statistics is the plain, old simple not completing that 120 four years worth of study within that four year allotted time.  They change majors, change schools in certain cases and then all of a sudden, you’ve added that extra year or two onto the equation.”

Jeff then shared this advice:

“The best way to plan for college is to start early certainly.  When I say early, ninth-grade, tenth-grade is a great time to start.  But start even earlier from the standpoint of getting a flavor or an idea of who your child is.

Getting an idea of what their likes, dislikes, finding out certainly in the high school grades, whether they’re people persons or things persons, whether they like things or people, and that’s a distinctive difference.”

Click JMorand2010 to hear the interview.  Have you changed your major while in college?  How did you plan for the extra expense? What other ideas might you have to prevent from being that “career student” and spending more on college than already anticipated?   I’d love to hear your story.