Is a Computer Science Degree Still Worth the Debt?, with Ron Lieber

In this episode of Afford Anything, host Paula Pant interviews award-winning personal finance columnist Ron Lieber of The New York Times about the evolving value of a college degree in 2026, especially amid rising student debt, AI disruption, and a challenging job market. Lieber argues that while the promise of guaranteed high-paying jobs after college—especially in computer science—is no longer reliable, a bachelor’s degree still offers substantial long-term financial and personal returns. He emphasizes using the College Scorecard to evaluate schools and majors by early career earnings, but cautions that short-term data doesn’t capture the full picture—liberal arts majors often catch up in mid-career due to adaptability and resilience. The conversation explores the real risks of private and parent PLUS loans, the importance of alumni networks in job placement, and the growing trend of families being unwilling to pay high tuition despite having the financial ability. Lieber also highlights the emotional toll on financial aid officers and the need for empathy in college admissions conversations. The episode concludes with practical advice: cap undergraduate borrowing at $31,000 (the federal limit), consider community college as a cost-saving strategy with careful planning, and prioritize schools with active, supportive alumni communities. Key takeaways include: (1) Use the College Scorecard as a starting point but recognize that liberal arts majors often close the earnings gap over time; (2) Undergraduate federal loans are capped at $31,000—this is a manageable risk if you avoid private or parent loans; and (3) Evaluate colleges not just on academics but on alumni engagement—reunion attendance and donation rates are strong signals of a supportive network. The episode underscores that college is still worth it, but the decision must be strategic, data-informed, and emotionally intelligent.