Is A College Degree Even Worth It?
Is a college degree actually worth it?
As you guys know, college degrees are extremely expensive. They’ve increased in cost like a ba-jillian times over the past 10 years. I don’t know the exact number, but it’s actually crazy the amount that tuition has continued to increase year after year after year.
So the big debate is, is it actually worth it?
I’ll give you guys my honest opinion on whether I think it is worth it or it’s not.
If you’re younger, maybe you’re thinking, “Hey, is college worth it?”
I know for a fact when I went to college, I had no idea how much college actually cost. I think one thing that’s challenging for people that are young is they don’t understand how money works, exactly. They don’t know how debt works and interest rates work. So, a lot of times they have no idea what they’re getting themselves into.
I know that we speak to people all the time that have 50, 60, 100, 150, 200 thousand dollars in college debt. I mean shoot, it could take them 10, 20 years plus to pay that off. It’s debt that they could sometimes never come out of, which I think is dangerous.
Now, with that being said, I think number one, you have to understand the actual financial commitment that you’re getting into.
I think that the college system is definitely an old school system. I think that today, more and more people are becoming self-educated, right? They’re educating themselves through online courses and classes and YouTube and even Google. We live in the information era where you can pretty much learn how to do just about anything.
With all that being said, I still think that there is a time and a place for college.
For example, for me it didn’t really make sense for me to go to college. I wanted to be an entrepreneur. I wanted to do marketing and sales, and this is stuff that you can learn through self-education and through books. This is stuff that you can learn through trial and error and through finding a mentor.
Really, you can learn just about anything through those platforms I just talked about, but in certain scenarios, like my brothers for example, you may need to go through a specific process.
Both my brother went to very specific trade schools. My one brother, he wanted to be a bar pilot, which basically drives these big, massive cargo ships inside of the San Francisco Bay. It was a requirement that he actually went to college to be able to do that. In that sense, I think it makes sense.
My other brother wanted to be an audio engineer, which is very specific skill set that he had to learn. Sure, maybe he could’ve learned it by himself or just learned it through online courses and stuff like that, but for him it made sense for him to also go to college.
Things to think about is number one, know what is it that you actually want to. If you don’t know what you want to do, maybe take some time to figure out what you want to do, because it is a huge, huge investment of not only your time but also of your money.
For you parents out there that are reading this..
Don’t throw your kid just into college just because that’s what the neighbor and everybody else is doing. Actually sit down and talk with your child. Do they even want to go to college? There’s plenty of kids today that are young and are becoming successful that never did it the whole college route.
So, that’s my opinion on the topic of whether college is actually worth it.