Mich. College Makes Job Guarantee

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Imagine a world where colleges offer you money-back guarantees. Lansing Community College may just start that trend.

The Atlanta Journal-Constitution reported that this small Michigan college is offering a series of job training programs with the promise that they will either get you a job or give your money back. According to the Journal-Constitution, “Lansing Community College is so convinced the jobs are out there that it's offering a money-back guarantee for students if they don't get an offer of full-time work in the state within a year of finishing one of the four programs.”

Granted, the college is not offering you two or four years’ worth of tuition money back, but rather the fee you pay for one of the four six-week courses, which is about $2400. Still, it’s nice to see an educational institution so concerned with actual results that they’re willing to lose money. The Journal-Constitution notes that students do need to “show a good-faith effort to find a job.” So, you can’t just sit on your butt playing video games for a year, waiting for your reimbursement check to come in the mail.

What makes this offer particularly insane is that Michigan actually has the highest unemployment rate in the country. That’s like KFC offering you your money back if their fat-fused Double Down sandwich makes you feel bloated. It just will, end of story.

So, New York University, my beloved alma mater, if you’re reading this: A lot of my fellow graduates are still hunting for jobs, so why don’t we do this in a kind of installment plan? How about you give students back one year’s tuition for each year they go jobless? Or better yet, why not give students a credit to go back to grad school until they can find a job? Just a thought…

—For a comprehensive credit report, visit the BankingMyWay.com Credit Center.

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