Reconsidering College: Why You Should Save Your Money
College is not for everyone.
The average 2016 graduate had $37,000 in student loan debt and that takes years to pay off, even if you buckled down and gave it your undivided attention.
Debt keeps you from moving forward. Debt keeps you from affording that nice car. Debt keeps you from buying that house for you and your family. Debt distracts you from paying your current bills. Debt keeps you down.
So was your ‘education’ worth it?
$1.3 trillion in student loan debt is insane.
That’s $1.3 trillion that went to the banks and the government, rather than the economy. That’s money that should’ve been placed in the system, creating new jobs and products, sparking innovation and solving problems. Instead, it kept the lights on at two separate entities.
The belief that college is a necessary path for every American is shortsighted. Not everyone does well in the classroom. There are plenty of people who are not good test-takers, but have great street smarts and common sense.
‘Higher education’ should be reevaluated.
We don’t need more theorists; we need more doers.
We need more real-world problem solvers, not test-takers.
Yes education is crucial for a better life.
But what are you learning? And who is your teacher?
“Only 7% of the high-performing CEOs we studied had an undergraduate Ivy League education, and 8% of them didn’t graduate from college at all.” — Harvard Business Review
A college education doesn’t appear to be absolutely necessary for a good life. And a college education won’t do for you what these four things can.
But don’t take my word for it…
“The vast majority of available opportunity right now requires training, not a liberal arts degree, not a four-year education” — Mike Rowe
“Don’t spend two hundred thousand dollars on a college degree and waste four years of your life” — James Altucher
“I think the American college system needs to be blown up and they need to start over” — Malcolm Gladwell
“Education is very good at training people to do the same things that we’ve done over and over again…it’s perhaps not as good at pushing some of these newer ideas…I think there are a whole set of challenges that have gone wrong” — Peter Thiel
“Doing less meaningless work, so that you can focus on things of greater personal importance, is not laziness. This is hard for most to accept, because our culture tends to reward personal sacrifice instead of personal productivity” — Tim Ferriss
Instead, educate yourself by reading everything you can get your hands on and participating in internships and apprenticeships.
You’ll learn a great deal more in the real world than the classroom.