Is College A Waste Of Time And Money?
So says James Altucker, columnist for “DailyFinance”. He suggests that parents save the tuition money and have more to retire on, as well as being able to invest it for your kids. Or, you might want to give $20,000 to each of your kids to start 1-5 businesses; let them travel around the world; tell them to get a job and get real life experience; volunteer and see the less fortunate or have them do nothing but read.
Well, of course I have a few things to say about that! I do believe that college is not for everyone. There are many teens and young adults that I see forming businesses of their own (i.e.—website design, programs specifically targeting their age group) or investing in a small business such as vending machines or coffee businesses. Becoming an entrepreneur may be right for kids who are able to work independently and be self-motivated and not interested in formal education.
That being said, there are many professional areas that still need highly educated folks who can’t learn just by doing. We need scientists, physicians, engineers, and so on who cannot pursue their area of interest without the knowledge and skills developed in college. And, for many careers, a college degree is mandatory. In fact, undergraduate degrees are viewed almost like high school diplomas; kids need graduate/advanced degrees to enter and move up in many fields.
So, while college has become astronomically expensive and not the only path for kids to take, I feel very strongly that there will always be a need for well-educated people, as well as folks skilled in many, many areas that do not required a college education. BUT—All kids need to develop skills and interest in some area, to find a path that’s right for them. Be an entrepreneur, be a scientist, be an actor—find something that you are passionate about and follow where that leads.
Enjoy Your Kids!