Federal student loan debt in the United States right now is estimated to be around $1.4 trillion, with millions of people still owing tens of thousands that will likely most of them more than a decade to pay off.
Young people today are told repeatedly that they need to go to college in order to be successful and that without going to college, there is no way that they could ever end up being able to provide for themselves in a meaningful way. Is this the truth, though?
For millions of students who do graduate with some degree and who owe thousands of dollars, a great deal of them will be surprised to find that perhaps getting a job in their respective field isn't as easy as they thought it was going to be. And some of them will even end up working minimum wage jobs or some entry position unrelated to their education history, that they likely could've start doing right out of high-school—saving themselves the time and debt.
Students will inevitably find today that post-secondary education isn't a guarantee for stable employment.
One big issue is that a great deal of graduates don't have any real work experience or they don't know how to apply what they've learned in school to the workplace. And if they can't relay the sort of skills they've acquired, that they will bring to the table for the company they're interested in working with, then they're unlikely to obtain the position.
At the end of 2016, it was found that roughly 44 percent of college grads are working in positions that didn't require a degree.
Obtaining a college degree doesn't guarantee success, job placement, or job security.
There are many entrepreneurs out there today who are living their dreams despite having made the move to drop out of college. People like Mark Zuckerberg (Facebook), Bill Gates (Microsoft), John Mackey (Whole Foods), Evan Williams (Twitter), Jan Koum (WhatsApp), and many others, have been able to pursue their business goals even though they dropped out.
Being an entrepreneur isn't easy, it can be one of the most difficult adventures that anyone might ever try to take on.
It's been suggested that the longer someone stays in school that the better their chances are of earning more, but that's a big risk to take. And especially for someone who cannot afford it or who isn't clear about what they might be passionate about and interested in doing with the rest of their lives, locking themselves up to some 4-8 year plan could be more detrimental than helpful to their success.
For those who aren't going to go the college route, they have the option of looking to try and gain that knowledge or those skills somewhere else. And thanks to the internet, there are an endless amount of resources that are available today for those who might be interested in pursuing further education.
A degree can provide a great deal of benefit for those who need it, in order to work in a specific industry for example, but college isn't a necessary ingredient to achieving success.
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NY Fed via Bloomberg
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Sources:
http://www.wbur.org/hereandnow/2018/02/27/student-loan-debt-crisis
https://www.cnbc.com/2016/12/15/why-college-grads-cant-find-jobs-commentary.html
https://www.forbes.com/sites/larryalton/2016/12/22/millennials-are-struggling-to-get-jobs-heres-why-and-what-to-do-about-it/#2883e5134bb0
https://www.bloomberg.com/news/articles/2017-04-06/college-grads-stuck-with-low-wages-as-hiring-in-u-s-heats-up
http://www.businessinsider.com/14-tech-superstars-who-didnt-need-college-to-become-billionaires-2014-9
https://www.forbes.com/sites/tomaslaurinavicius/2018/02/06/this-college-dropout-wants-to-redefine-the-way-we-learn-foreign-languages/#62673580e4b1
https://medium.com/@pocketysun/this-20-year-old-college-dropout-founds-and-funds-startups-65f49cbfacdb
http://www.businessinsider.com/14-tech-superstars-who-didnt-need-college-to-become-billionaires-2014-9#azim-premji-14
https://www.usatoday.com/story/money/business/small-business-central/2017/05/21/what-percentage-of-businesses-fail-in-their-first-year/101260716/
https://www.inc.com/drew-hendricks/4-hot-startups-run-by-dropouts.html
https://www.cnbc.com/2017/05/10/10-ultra-successful-millionaire-and-billionaire-college-dropouts.html
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Tell that to all the graduates working at Starbucks and in the restaurant industry across the USA, paying off their monstrous student loans that paid for the fat salaries of those fancy, tenured professors.
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Actually, going to college may be the single biggest hindrance to success.
Unless you want to work in a STEM field, going to college wastes four years of your life. The well rounded education that we like to dream about, is long, long gone. It is now, just four more years of indoctrination of things that have nothing to do with any job you will ever get.
Four years that you could have spent working. Or four years you could have spent working as an intern learning the stuff you really needed.
The only worth of a degree is that many companies demand a BS to get your foot in the door. However, this is quickly changing. Especially in the field of computer science, where companies want to get budding programmers before they get brainwashed in college, so that they can train them correctly.
And, if you are of the entrepreneur bent, college will destroy you. Or, at least set you back four years unlearning all the crap that people who couldn't hold down a real job on the outside taught you.
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I loved books and stories... so I went to college for English Literature. I read fewer books in college than I did the in the four years before college. School keeps you busy with things that are not necessary and often keeps you from real learning.
I strongly agree with your comment.
I am of the entrepreneurial bent and I am struggling. It's been a decade and a half since graduating from college and I have mixed feelings about college. I think it's mostly a waste of time and money, but I am grateful for the things I did learn and the people I met. I do not want my children to go to college. That means that I have to be creative about finding other opportunities for them.
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College, socially, is the last place where you can run into all kinds of people.
Out in the "real" world, everyone lives in their little house or apartment, and never comes out. There is very little community socialization. And i feel that this is what is missing.
We do not have a here are the eligible bachlors and nubile women get togethers.
We just have tinder and plenty-of-hookups.
However, now a days, with #MeToo, if you are male and unless you are a hunk, it is best to avoid talking to anyone. Especially any women, unless you absolutely have to. Else, you risk being thrown out in the middle of your education... without a real trial.
So, college, i believe has lost all of its value. Although i do remember the years fondly. (probably because i have nothing better to compare it to)
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These days it seems like college just puts people in a mental box, and in many ways, it puts a lot of bad ideas in peoples heads, especially with how the curriculum is now so influenced by government.
vocational schools and training courses are different, but I believe the traditional college model will be obsolete soon enough.
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There r certain career that require you to go through college
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completely agree with you. college is a right of passage in our culture, one that doesn't even necessarily lead to good job placement anymore!! it's crazy the student loan debt that so many of my friends have!! i totally agree that a framework and a dream is truly what you need.
original thinking will take the cake in years to come as we all need to find alternative solutions to our world's issues <3
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I think is good to go to college but you shouldn't depend on your certificate to become successful ,education helps to broaden your scope of knowledge but shouldn't restrict you or stop you from bringing out your potential,so going to college is not a guarantee for success.
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The same situation here in Italy. Some years ago (when I was young) the post secondary school was almost a guarantee for a good job, but in the last years it's not the same. Many young people with a an high level of education are not employed or they are working in manual job where his education is irrelevant. Here we have the issues that the new graduates are more than the jobs available and just some of them became self employes/entrepreneur. As you wrote (and I know many people who can be a good example) "college isn't a necessary ingredient to achieving success."
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Once upon a time, that may have been the case, I don't feel it is as much today. It used to be that the teachers and schools were the keepers of knowledge. You had to go to them to get the information that you needed to do whatever it was you were going to do. These days, the knowledge is already out there. It is all over the place and for the most part we all have access to it. As long as you know where to find it and have the skill to apply it, then you can be successful. The tech sector is a huge example of this. If I hadn't went to college, one of my career choices would have been HVAC technician. People always need heat or A/C and I guarantee I would be making much more than I currently am working for a public school. This was a really great post. I like how you presented the information. Thanks for sharing it.
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In my case, I got a degree in engineering, which was not easy. I then put that degree to use for 1.5 years. Fast forward 11 years and I have not needed that degree at all. It was a total waste of time and money.
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hiii my friend @doitvoluntarily, wonderful educational article you shared which is very helpful specially for students. I think As long as you're committed to your academic success, you'll succeeded. Following Points are note-able.
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All it takes is a little drive to learn something and the drive to take action and put it in motion...social media marketing or real estate or entrepreneurship are all viable pathways to take and this can be done without obtaining a college degree... there is a huge misconception out there these days saying college is a must, people are proving this to be incorrect on the daily ( take those who create their own drop shipping stores from scratch and turn nothing into 6 figures in a matter of weeks) it's happening all over the place, but you have to have the grime and grit to make it happen, it won't happen on it's own
Valuable post, with a valuable lesson... thanks for sharing @doitvoluntarily
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I think it depend on individual. Many students aren't succesfull in studying cause they were not serious to get science. Beside that their major sometime was not suitable with their talent. It made them fail and look for a job that not suitable with their major.
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In my place every year thousands of bachelors are born but they all are not workers because of scholars, even they have to fight to get a job when the job does not require a degree at all. I have no idea
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I know people with a deccent degree, went to scool until they were about 26 years old. But can not find a job. Pretty sad actually.
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This great writing, iappreciate this education
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It's good that so many people who continue to attend college, because with a scholarship people can be easy to go to college
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Wow. Seems like debt slavery will continue. :(
Joy
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The college here in my country is subsidized for the poor and the middle class also takes advantage by faking their financial condition. In this case yes college is even some times free. This is why my country produces so many worthless engineers.
If some one here does not go to college here then he is considered down market or a low level person. Here a man's worth is weighed by his level of education and the money he has. Even if some one becomes an entrepreneur and achieves success then also he will be despised if he had not got a degree in engineering. Here becoming an entrepreneur is looked down upon. Sometimes parents even go to an extent of taking their children to psychiatrist if they even talk about making an entrepreneur. Its not a joke. It has happened with my cousin. He was may be 24 or 25 years old at that. He had completed his bachelors degree and his parents wanted him to do masters while my cousin had different plans. He later gave up the idea under pressure and is now working in US after completing his masters degree.
Of -coarse there is a risk involved in becoming an entrepreneur but i don't think this is a justification for not trying to be one. I have seen entrepreneurs become more successful than their friends who are now working for corporate.
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No...that's wrong idea...
you did't tell this fully..not getting a good job to a educated student,
the education system is responsible for this...
i obey that there has some fault not to get proper knowledge for the idleness..but the system is fully responsible..
Michael DELL is right in the other category..
"Framework and Dream is must important chapter"
i appreciate you because a proverb
"Where there is will,there is a hope"
@upvoted @resteem
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I feel like it’s in the middle I’ve seen some individuals without a college degree and they are much more successful than people with college degrees it always cries . I believe it also depends on the type of person , their qualifications , qualities , etc
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Good information!
you got my upvote
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I think technical knowledge is all you need nowadays. What is required by job aren't taught in class most of the case. Being skilled in specific field is better than Having basic knowledge about everything.
Anyways your post is informative. Thanks for sharing.
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Educated post kerp it up @doitvoluntarliy
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thanks for sharing this helpful post about the importance of education....i impressed and hope everyone like your post....
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I think exactly like the last photography of the Michael Dell quote.
Thanks for sharing!
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You're right: college is not necessary. Lots of folks have gotten skilled blue-collar jobs through trade schools and they're reasonably happy.
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For me if the ability of the brain is not smart and do not have the skills, the lecture is just a waste of time and cost. Better to directly open a business in accordance with the expertise they have.
Interesting information @ david
thanks for sharing.
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