Is college still a good investment?
Bill Gates, Henry Ford, Steven Spielberg, Halle Berry, and Mark Zuckerberg all have at least two things in common. One: they are widely known for being successful, and two: They never finished college (and probably don’t plan on going back). Those are people who didn’t let themselves bend under the pressure of their high school counselors and posters all around the school telling them they will never amount to anything if they do not go to college. Instead they took on life on their own and deciding to succeed their way. Don’t they sound like perfect role models?
While people like Zuckerbeerg are making millions, it’s odd that college graduates have to go back and work at low paying jobs primarily designed for high school students, which bring the question: Is it necessary to go through the hassle of getting a college degree if you can’t even use it afterwards?
If you can finish college with a strong foundation and get a good paying job, then college could definitely be a good thing; getting paid 84% more than you earned back in high school sounds pretty sweet. And taking the risk of not going to college at all, thinking your startup business is going to put you out there and BAM!
You’ll be successful is not such a good idea either, because (let’s face it) not everyone makes it as an entrepreneur. According to an article on CollegeView, going to college doesn’t only open up paths to more professional and higher paying jobs, but college attendees get the opportunity to assist lectures and have experienced professors thus getting exposed to people who has actually made it with a college degree and can also teach them the same. Those connections can play a major role in helping students get jobs once they get out of college.
It is said that one can earn a higher salary with a college degree, and the statistics show that it can be true. Working college grads are earning about 84% more than those without a degree; it has grown since 1999, back when it was only 75% (but still pretty high). Sounds appealing, however what those college campaigns don’t tell us is that 53% of college grads are either unemployed or underemployed. It’s the highest it has been in the past 11 years. Why aren’t they getting jobs? Well, thanks to college campaigns and motivational speakers, the number of adults under 25 with a bachelor degree has grown 38% since 2000, but the bad news is that not enough jobs were created to accommodate them.
So next time you can’t get a job at your local Fast Food restaurant, blame it on your local underemployed graduate. How does the government expect College grads to pay loans accumulated over 4 years, with the low salary they’re getting from let’s say Buffalo Wild Wings? That is nearly impossible, unless they fall in the 47% who actually make it, and get good paying jobs.
Going to college is a big decision to make; not going can almost guarantee you’ll spend the rest of your life working at a low paying job (if you’re not like the next Kaye West), while going can make you spend the rest of your life paying student loans while still working at a low paying jobs (if you’re not part of the lucky 47%). So, if you’re a current high school student, don’t give up the idea of going to college yet. As a matter of fact, make it your Plan A; however, start developing your skills into something that might help you become successful and if it’s not taking off at the end of high school, maybe take a break before heading to college, and if it’s still not taking off then go ahead and start college while still working on your project; this can get you some new connections and even partners that might help you get your name and business out.
And if you’re already in college, then you might want to slow down on those student loans, and explore more scholarship options, even if your GPA doesn’t look too good (you’ll be surprised what they give out scholarships for). Also, reevaluate your major a couple times, and ask yourself: Is this a good major for me? Will it help me financially in the future? Is there a demand for it? If you’re going to spend 4 years of your time, and student loan on a major, make it something that will land you in the 47%. If not, then maybe going to college isn’t the best choice.
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