How to fill out college entrance exam preferences

When filling out your college application, the first thing to do is not look at the student, but at the parents.

There are three types of parents.

The first type is wealthy and well-connected. (If they can secure a good job for their child, that counts as having influence—anything better than letting the child fumble around in the open market.)

The second type is wealthy but without influence. (Families that can fully fund graduate studies through a master's or doctorate, without needing the child to start earning early, count as wealthy.)

The third type is neither wealthy nor well-connected. (Graduate and find a job immediately to help support the household.)

Children also fall into three categories.

The first type is highly talented and risk-seeking.

The second type is highly talented and risk-averse.

The third type is mediocre and risk-averse.

Wealthy and well-connected father, talented and risk-seeking child: What should you choose? Follow the child’s wishes. Let him do whatever he loves. If he wins, you applaud him. If he loses, you cover his losses.

Wealthy and well-connected father, talented and risk-averse child: Go home and ask your dad which field he’s influential in. Whatever that field is, that’s what you study. That’s it.

Wealthy but not well-connected father, talented and risk-seeking child: You can do whatever you want. Your dad can only fund your education—he has no ability to help with employment.

What if the father is wealthy but not well-connected, and the child is talented and risk-averse? Since your dad can afford to fund your studies, go with strategies that rely on endurance and time.

Wealthy but not well-connected father, mediocre and risk-averse child: If there’s rental income, collect rent. If not, become a security guard.

The final combination is when you’re on your own—you have to fight it out yourself.

Too much uncertainty. A change in any single factor can cause your entire plan to go down the drain halfway through execution. The time and money already invested mean the ship cannot turn around.