00:00You know about gap years. No. Yes. Well, you know, we both have firsthand experience with this,
00:04but for a certain cohort of families, there's a $95,000 gap year program. This is just the rich people.
00:10It is a rich people story, and it includes bungee jumping near Victoria Falls in Southern Africa,
00:15visiting a Brazilian bank, coding an app. Bloomberg's Sarah Foster wrote about this for
00:20the money team, and she joins us now. This is more than just getting some experience and,
00:25you know, maturing into your college experience, isn't it?
00:28It used to be this perception that gap years were kind of this, like, laissez-faire. I'm going to,
00:33you know, follow around fish, maybe generation before that, the Grateful Dead. Maybe I'll work
00:38on a ranch. Now it seems like parents are really using these highly facilitated, tightly scheduled
00:44gap years to make sure they're, you know, exposing their children to people that they might be able
00:49to get help from when they start to graduate and look for a job. I heard from some parents here
00:55who
00:55actually, they kind of attribute the value of someone found an internship through a connection
01:01that he made while meeting someone on one of these gap year programs. So it's like those qualitative
01:06kind of career focused, you know, goals that a lot of people have.
01:11It's about beating up your resume before you even start college so that when you get to college,
01:13you can focus on the extracurricular activities that gets you the network to get the job.
01:17It's true. I was also speaking with another gap year student who did a semester long program,
01:23and then he paired it with an internship that pushed back his graduation date. He was saying that he
01:29was doing research for an MBA program with his mom and noticed that a lot of people who were in
01:35this
01:35MBA program that he wanted to apply for, they did the same kind of gap year program. So he was
01:41kind of
01:41also using it as a way to get into one of those schools. These people are such strivers. I mean,
01:45I know Kevin Gordon at Schwab. He was a lifeguard when he was at Pepperdine making like six bucks an
01:51hour. Well, maybe in 2026, it's a different story. Of course, you have to be able to afford this. And
01:55it's also very competitive as well.
Comments