There are many ways to accumulate knowledge and make money, and college is one of them, but not the only way. Gaining information, you will most likely never apply in the real world doesn’t sound all that appealing after all.
Since we live in a constantly changing and evolving society, it is important to develop new skills and knowledge continuously. The only problem is that many seem to limit their potential and opportunities by having a false belief that college is the only source to reach their intellectual, financial or public reputation goals. Living in an era where entrepreneurship is at its peak, the avenues to attain these dreams have increased even more, and a number of unemployed graduates who are in serious debt are convincing enough to consider other avenues at least. This video from foxbusiness.com has an interesting entrepreneur’s view on this matter.
Every year there are new studies on the topic of college students living at parents homes struggling to find jobs and pay off debt. Research done in 2016 states that the average college student’s debt is $23,700, with monthly payments ranging from $332 to $432 per month. Now, so that you can have an idea of what I’m talking about; there are 44.2 million Americans with student loan debt and increasing every day.
Know What You Want Then Go For it
To attain a degree, one must spend at least four years in college, which isn’t much. Now, when majoring in law, medicine, politics, etc.. There are more years required, and it would be nearly impossible to make a career in such field without the education, so not a bad route after all. But the reality is that many are going to school for majors that will be entirely unrelated to their future job since only 27 percent of graduates work in the field related to chosen major. That’s pretty rough…
Now, don’t get me wrong, a lot of things college teach is valuable and applicable to life; such as writing, critical thinking, confidence within a group setting, etc. Now, on the contrary, a person who values these learnable skills, can work and educate themselves on most of these subjects. Paying for schooling knowing that only 20% or less applies to everyday life is something to worry about. Schools don’t teach how to manage finances, invest in stocks, invest in real estate, the habits and rituals of the most successful people in the world. These are the things that are worth paying.
College Is Good For Some, But Not All
College isn’t a bad thing. It’s important to be educated and having the background to show you did something with your life. But what many entrepreneurs learned is that there are many ways to build a solid career by creating a solution to people’s problems and or offering a product that others need. Also, educating yourself continuously in your field and on the subjects that will lead you towards desired goals is critical to succeeding without a college degree.
So what am I saying? College is a great investment for some people, but not everybody. Not having a college degree isn’t a bad thing if you do something productive with your life. Develop yourself, create and offer value to the market, and you can earn 3x the average annual salary of a college graduate. There are many alternatives in creating financial freedom, gaining knowledge, and the credibility you may be seeking. Every millionaire mentor I’ve encountered have said the same thing: “College never taught me how to make money.”