By OBBM Network Editorial Staff

Derived from an episode of Pirate Money.

What would you do if the price of a four‑year college education could be covered by a single ounce of gold? Kevin Freeman and guest Mike Carter tackle that very dilemma, weighing soaring tuition against the rise of artificial intelligence and the shifting job market.

The Rising Cost of a College Education

Freeman notes that public in‑state tuition now sits at a “$11,950 sticker” for four years, translating to roughly $48,000 before room and board. Private nonprofit institutions can charge $45,000 per year, pushing total tuition to about $180,000. When you add housing, meals, and travel, the price tag easily exceeds $200,000 for many families.

Freeman also points out a striking gold‑price comparison: in August 2026, gold was about $4,400 per ounce, meaning 28 ounces—roughly $123,000—could cover a full four‑year public education, a dramatic drop from the 130 ounces needed in earlier decades. “If I’m paying for it today, this is a public school, $124,000 for a four‑year education,” he says, underscoring how the cost burden has shifted dramatically.

AI’s Impact on Traditional College Pathways

The conversation turns to technology. Freeman observes that many entry‑level tasks—writing memos, creating slides—are now performed by AI in a fraction of a second. “You better pick the right major,” he warns, implying that degrees once guaranteed stable careers are losing that security.

Mike Carter adds that by 2035, the fastest‑growing occupations will be in personal care and home services, not the classic engineering or accounting roles that once justified a college degree. He cites a Visual Capitalist chart showing “Home and Personal Care Aids” at the top of the hiring list, suggesting a shift toward service‑oriented work that may not require a traditional four‑year degree.

Alternative Paths: Investing Instead of Attending College

Both hosts explore the idea of treating tuition as a pure expense rather than an investment. Freeman frames the decision as a simple test: “Tuition is spending. The school says it’s an investment. A family should test that claim before they sign the loan.” They compare the $261,880 cost of a private nonprofit education to the potential returns of investing that sum in the market.

Carter illustrates the math, noting that if a family were to invest the same amount, even modest annual returns could outpace the lifetime earnings boost traditionally associated with a degree. He says, “If you invest instead of going to college, you take that same year amount of money and you put it aside and put it in an investment account. I’m looking at those numbers and it becomes very interesting.”

Choosing a Degree That Still Pays

Not all majors are created equal. Freeman and Carter laugh about obscure programs like “Puppet Arts at the University of Connecticut” and “Bowling Industry Management at Bowling Green,” but they agree that practical, high‑demand fields remain valuable. Engineering, nursing, accounting, and teaching are still cited as solid choices, whereas degrees such as gender studies or bagpipe performance are questioned for their return on investment.

Freeman emphasizes the importance of aligning a student’s passion with market demand: “Look at your daughter, son or daughter. Look at their experiences. Maybe help guide them to where their passions are. Because we want to know if you find that job where you love doing it, you never feel like you’re working again.”

Practical Guidance for Parents and Students

The hosts offer a three‑step framework: 1) Calculate the total cost of attendance, including hidden expenses like travel and board; 2) Research projected job growth for the intended major, especially considering AI disruption; 3) Compare the projected earnings boost against alternative uses of the money, such as investing or starting a business.

They also suggest a reality check: talk to recent graduates, examine actual salary data, and consider whether a degree will open doors that cannot be accessed through apprenticeships, certifications, or entrepreneurial ventures. “If you’re sure that person is right for the business,” Carter says, “you can put that same money to work and potentially see better returns.”

In the end, Freeman reminds listeners that the decision is deeply personal but must be grounded in hard numbers and forward‑looking market trends. The conversation underscores that while college can still be a pathway to financial security, it is no longer the automatic bargain it once was.

The full episode of Pirate Money is available on OBBM Network TV.