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Imagine a retirement where you could have an extra $1million to $3 million in the bank with basically no effort. Now imagine telling your kids that you aren't going to send them to college. And, you go on, you want them to immediately start a business or get to work as soon as they finish high school.
These are difficult things to imagine because we've been so scammed by the "career industry" that tells us we need college degrees in order to succeed in life, regardless of how much money we spend for those degrees or what we actually do with our lives during the four to eight years it takes us to get those degrees.
Perhaps you're right about that, but you failed to point out where the fuzziness lies, so I won't say that I agree or dis-agree with you. I am however very curious to see how you would crunch the numbers to eliminate the fuzzinees you perceive.
If most people follow the advice of that article, they'll be saying "Do you want fries with that?" or "Welcome to Walmart" for the rest of their lives - and they almost assuredly will not have $1-$3M saved up in bonds somewhere, because they will likely have needed all of that money (and perhaps then some) to stay afloat and manage their cost of living on a meager income.
College degrees are no panacea, but I would argue that you're still better off with a useful degree from a basic, reputable school (doesn't have to be Harvard) than with nothing at all.
Most people are not Bill Gates, and most of the blue collar jobs that kept people well paid in years past have been sold to China or somewhere else by now (along with quite a few of the white collar ones, too).
This line tells me everything I need to know about the person that wrote this "article"
Quote:
Alternatives to spending $200,000 per kid so they can waste four years of their lives:
See full article from DailyFinance: Seven Reasons Not to Send Your Kids to College - DailyFinance (http://srph.it/cw3PqQ - broken link)
Bolding mine.
This person believes that college is a waste of time. I don't. I went into college with a defined career path (education). I also went in knowing that it would take me five years because it is a dual major and no way to reduce the number of years.
College is a waste for some students. Especially those that have no idea what they want to do and they want to avoid the real world for four more years. There are lots of students who come out of college to do menial jobs where a college degree wouldn't advance them any further. That may be a waste, but if you know what you want to do, have a clear goal, and achieve it, I think college gets you there.
Some kids need to go to college, others do not. I don't know why the myth that a good income is impossible without a college degree continues to exist. If an 18-year-old starts a successful business (and yes, I realize that that is a BIG "if"), then there is no reason that he should be struggling 10 years later. If he starts an unsuccessful business at 18 (which is more likely), then it will teach him that he must either A) figure out how to run a successful business, B) forget this business-ownership and go work for someone else, or C) go back to school. A university education is not necessary for everyone. If you want to be a teacher or a lawyer or a doctor, then yes, of course you need to attend college. If you want to start your own auto shop or work for your family's carpentry business, then a trade education (by way of a trade school or an apprenticeship) is the way to go. If you are internally motivated, you may be able to succeed at what you love doing without any formal education at all. College is a great option for some, but can be a waste of four years for others.
I want to know in what world the average 4 year degree costs $200,000.
That's $25,000 a semester. That's definitely private school rates and probably bordering on Ivy rates.
A reputable state school, with tuition, room, board, and supplies will run you around 8-15 max a semester. That's 65-130k or so for the cost of the average college degree right now, and there are ways to make that cheaper (work in college, go to a 2 year school, go to school locally and live with parents, etc etc).
Imagine a retirement where you could have an extra $1million to $3 million in the bank with basically no effort. Now imagine telling your kids that you aren't going to send them to college. And, you go on, you want them to immediately start a business or get to work as soon as they finish high school.
These are difficult things to imagine because we've been so scammed by the "career industry" that tells us we need college degrees in order to succeed in life, regardless of how much money we spend for those degrees or what we actually do with our lives during the four to eight years it takes us to get those degrees.
I made sure that my daughter went to college and I made sure that she paid for it.
Problem solved and was the best money I never spent.
I told her when in high school that if she wanted to attend college that she would have to make it happen.
She kept her grades up and received tops and grants and attended UNO without it costing her a lot of money.
In fact the first three years it didn't cost her a penny and her fourth year cost under $500 to complete.
She lived at home and worked as a waitress for the things she needed including car, insurance, clothes, cell phone, etc. and we made sure she had a roof over her head and food on the table.
After completing school she continued to work as a waitress while getting her real estate license and insurance license. She got a degree in business and now runs an insurance company.
If you work hard and get good grades an education doesn't need to cost a lot of money. She worked her butt off to get where she is and now she enjoys the fact that she did it all herself.
I want to know in what world the average 4 year degree costs $200,000.
That's $25,000 a semester. That's definitely private school rates and probably bordering on Ivy rates.
A reputable state school, with tuition, room, board, and supplies will run you around 8-15 max a semester. That's 65-130k or so for the cost of the average college degree right now, and there are ways to make that cheaper (work in college, go to a 2 year school, go to school locally and live with parents, etc etc).
That article is ridiculous.
Exactly, especially considering even the most expensive private schools run about $55K. Even at Harvard if you make under $60K you pay NOTHING after that it is 10% of your income up to an income level of $180K. It is quite a bargain actually.
Sounds like the author has a chip on his shoulder from getting passed by for a promotion from someone with a college degree.
There is more to going to college then what you learn in the classroom too. There is a definite difference between young people starting in the work force that went away to college vs staying home and going to college even. In our state it is getting to the point that if you want any job other than entry level you need a masters degree. Try finding a job without at least a Bachelor's . That minimum wage job is really going to get you far in life?
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. That minimum wage job is really going to get you far in life?
