5 Reasons College is a Waste of Money | I Know You'll Remember

5 Reasons College is a Waste of Money

Degrees Can't Pay Rent

Degrees Can't Pay Rent

The average American is conditioned to accept the fact that without a college degree they will achieve nothing in their life and have no chance of building a successful career. Yet it is the colleges themselves who came up with this theory, so how do you explain the fact that eight of the richest people in America do not have a degree?

1. The Cost

Some four years long degree courses can cost up to $250,000, a loan of this size will result in repayments for the remainder of the graduate’s days. The average graduate will change career approximately five times throughout their life so the initial college investment into their original chosen career is never recouped.

2. College fosters learning, not performance

Professors do not have the flexibility to think outside the box and be creative to prepare their students for the real world, they are forced by the system to be narrow-minded and teach worthless information that will never help students gain successful careers. Professors have usually spent their whole career working on campus thus giving them only theoretical knowledge of how the real world actually operates and the skills and experience needed for graduates to be successful. Neither do professors experience the pressures felt in every day careers, how does a student question the knowledge of his professor? In the real world you will always be judged on how you perform and the results you achieve.

3.The “A” student myth: College = well-paying job

Do you really need a degree to be a successful business person, a mathematical genius or a world class contributor to society? Research shows that “A” grade students are no more likely to succeed than “C” grade students once they make their way into society.  What is really fascinating is insubordinates who, once they are allowed to pursue their interests in  non-academic settings seem to flourish. Albert Einstein held his professors in contempt and was kicked out of school but went on to be one of the world’s greatest Physicists. “Wisdom is not a product of schooling but of the lifelong attempt to acquire it. (A.Einstein, 1954).

4. College brings students from inquisitive to indifferent.

We are brought into this world with the ability to love unconditionally, a yearning for knowledge and an intense desire for all things new. Yet it is quite common once graduates have gone through the education system, their yearning as all but diminished. How much of the information that students spend four years agonising over do they actually use in their careers today?

5. College makes it easier for you to believe what your told. 

Life itself is the best education that one can receive, don´t be fooled into thinking that going to school is the only way to achieve your goals. College is perceived as being the stepping-stone to success, but yet it flounders in the ability to provide the knowledge and skills to enable graduates to become entrepreneurs. “Why do we place so much emphasis on young people learning abstract academic stuff, and then don’t give them any way to learn real world things?” (Michael Ellsberg, The Education of Millionaires, 2011). When a graduate is told they will have the promise of a million dollar lifetime earning opportunity, once they are kicked out of their dorms, do they also tell them that these figures do not incorporate the fact that for those students who took a student loan to get through college in the first place will be forced into a 9-5 rat race job just to make the repayments.

Final thoughts

Just for arguments sake, let’s say the average college fees are $20k per year, over the 4 years that’s a total of $80k. Instead of spending that money on tuition what gain would one receive if it was invested in stocks over a period of 10 years? Well, calculations show that the final amount could be well over a million dollars. A good example of this is $80K invested in Microsoft back in 1987 would, 10 years later be worth $42 million, and agreeably this is an extreme model of choice but still proves a powerful and valid argument.

 

“I am convinced that there is no greater way to learn than the process of self-directed inquiry. I am also convinced that, in America and in many other countries of the world, traditional education continually short-changes its recipients by its familiar to empower them with sufficient knowledge of self to be self-determining. In traditional education we earn about everything but ourselves. Since educators cannot be absolutely sure of the human elements of self-discovery, they ignore them entirely. The logical approach should be just the opposite: that which we do not know for sure should maintain our attention. We spend hundreds of hours in school studying material of questionable utility, and virtually no time in attempting to understand the human needs, drives, motives and emotions that we live with every day.”    (C. D. Hayes, Self university, 1989.)


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