America’s Most Overrated Product: The Bachelor’s Degree
Marty Nemko makes more than a few good points about the bachelor’s degree in his article. I have had a lot of issues with not finishing school. This article provides many points about how universities around the nation are offering a product that costs more than it is worth and how that product fails many more people than it serves.
Even worse, most of those college dropouts leave the campus having learned little of value, and with a mountain of debt and devastated self-esteem from their unsuccessful struggles. Perhaps worst of all, even those who do manage to graduate too rarely end up in careers that require a college education. So it’s not surprising that when you hop into a cab or walk into a restaurant, you’re likely to meet workers who spent years and their family’s life savings on college, only to end up with a job they could have done as a high-school dropout.
Also included in this article is some helpful information for people considering going to college.
If your child’s high-school grades and test scores are in the bottom half for his class, resist the attempts of four-year colleges to woo him. Colleges make money whether or not a student learns, whether or not she graduates, and whether or not he finds good employment. Let the buyer beware. Consider an associate-degree program at a community college, or such nondegree options as apprenticeship programs (see http://www.khake.com), shorter career-preparation programs at community colleges, the military, and on-the-job training, especially at the elbow of a successful small-business owner.
And don’t forget…
If your child is one of the rare breed who knows what he wants to do and isn’t unduly attracted to academics or to the Animal House environment that characterizes many college-living arrangements, then take solace in the fact that countless other people have successfully taken the noncollege road less traveled. Some examples: Maya Angelou, David Ben-Gurion, Richard Branson, Coco Chanel, Walter Cronkite, Michael Dell, Walt Disney, Thomas Edison, Henry Ford, Bill Gates, Alex Haley, Ernest Hemingway, Wolfgang Puck, John D. Rockefeller Sr., Ted Turner, Frank Lloyd Wright, and nine U.S. presidents, from Washington to Truman.
(That’s for all you out there coming here for the lulz)
May 5th, 2008 at 11:40 am
I didn’t read the article, but in the bachelor’s degree’s defense there are some options for additional schooling that can only be obtained with a bachelor’s degree. Med school, law school, graduate degrees, etc. Also, I recommend college for the life experience almost as much as the degree.
May 8th, 2008 at 12:03 pm
I disagree (and i couldn’t view the article). Most data shows that, on average, someone with a Bachelors makes more money than those without.
However, it is important to consider the debt incurred with a bachelor’s degree. For instance, NYU costs something like 40,000 a year. A YEAR. I have a number of friends with debt in the $50,000 range. I have one friend with a debt of $140,000. So, yes, it may not be worth it if you go to an expensive school for a degree with no earning potential.
However, state schools are cheaper and are generally worth it if a degree is desired. I do not, though, think everyone should go. I think there are people who don’t need the skills developed in a bachelor’s program. People should do what makes the most sense for them and if they can make really good money without a bachelors: more power to ‘em.
[by the way, the list of famous people without college degrees is comprised of people who came of age before most people even went to college.]