Has college become worthless?

[jfg]

College was great, I learned a lot and had a great time but it seems like today's version of college is creating a generation of people who will be working their whole lives to pay off a degree that gave them a ticket to work. Indentured servitude basically. Is it worth the cost anymore? My friends who didn't go to college are living better than most of those who did but it is at the cost of long days of hard labor. The ones who did go to college and are making good money are highly motivated people and I wonder if they would have even needed a degree to kickstart a career.

[phillyphan12]

Exactly why I(19 years old) applied for a job at the nearest ExxonMobile oil refinery about 6 months ago. Took their Skills test( Math etc.), passed, got an interview, and finally got the job after passing numerous tests(hearing, vision, drug). I start on the 23rd and will be receiving full benefits, and a starting salary of $17.00/hr.

I am so relieved to be finished with school, went through 2 semesters in my freshmen year at a community college and was not looking forward to the possible expenses I was looking at should I decide to transfer to a University...got very lucky to land this job and feel like I'm in a much better spot than my friends are right now who will be paying off large debts to these schools.

[bleach168]

Depends on the amount of debt. After 4 years, I owed $14k. It wasn't too hard to pay off. But that was a while ago.

It really should be decided on a case by case basis. College isn't for everybody.

[dAnzac]

I never understood the appeal of being poor for 3-4-5 years, then having someone with their hand in your pocket for years afterwards. All this just to go to school longer
That's why I didn't go.

[Grounded Polo]

It's just what the current system wants. A vast majority of entry level office jobs could really be done by high school graduates who would have gone to more or less an average level college and would be ahead of their equivalent college grads probably until their late 20s when things even out after the grads have experience.

The hard labor jobs are good money for anyone young but you don't want to spend 40 years doing that, your body couldn't handle it. Better get into management or something long before that. It's also a male advantage that men have tons of options outside of going to school for 4 years to get a career and make good money, women don't have nearly as many opportunities since men dominate construction, plumbing, auto repair, electricians, etc. It's probably why women get more degrees than men now.

The student loan debt crisis is insane. My debt was only 16k, no big loss. I pay off the minimum every month because it's not a big amount, I'd rather spend my money elsewhere for now although I could pay it off in 6-12 months if I tried. The kids who rack up like 70k better treat college as a glorified vocational school.

[Art Vandelay]

I think the idea that you have to leave college with huge amounts of debt is a myth. Sure, if you decide that you are going to go to school for four or five years and not work a day a borrow all of the money you need for tuition and living, you're going to have a lot of debt when you're done. If you work while you're in school, don't go to a ridiculously expensive private school, and don't live like you have all the money in the world, you shouldn't end up with much debt. I put myself through school, worked 40+ hours a week the whole time (except soccer season, when I only worked about 25 hours a week), didn't take expensive trips and vacations like Spring Break in Cabo is some kind of right, and when I graduated I would have had no debt if I hadn't taken out a student loan my senior year to buy a car.

Go to an in-state public school, maybe even start at a community college to get some general ed out of the way, work, and don't act like you have an endless supply of money to spend on whatever you want and college is affordable with little to no debt.

[knapplc]

I think it's undeniable that in the long run getting a degree is better than skipping college. Aside from the whole experience of life at a college/university, which is not the same as being a working 18-22 year old, the wages you'll earn with a degree are far better than what you'll earn without one over the course of your life.

I kind of did both. I went to Nebraska for my freshman year and had some great, fun college experience. So much fun, in fact, that I flunked out. Then I went and got some pretty &%*^%y manual labor jobs for a few years. It took me about five years to realize how dead-end that life is, and I went back to school, got a degree and moved on with my life. Contrast that with my wife who graduated with a BS in business, and the fact that she left school making 2.5 times what I was making while sitting in air conditioning at a desk. It's taken nearly 20 years and several job changes for me to finally start earning what she's earning.

Do what Art said - live frugally, get a job, work your way through school and leave with little or no debt, and you're on a far better job path than the one I took.

Even with the disdain I hold for the "education" many of my college-grad friends received, I would not hesitate to trade my manual labor life from age 19-22 for their college degree. I regret not staying in school, big time. BIG time.

[RugbyD]

in most cases college is going to be a requirement if you want to have a career instead of a job. there are always exceptions, but it is a very small %.

[Neato Torpedo]

I think the idea that you have to leave college with huge amounts of debt is a myth. Sure, if you decide that you are going to go to school for four or five years and not work a day a borrow all of the money you need for tuition and living, you're going to have a lot of debt when you're done. If you work while you're in school, don't go to a ridiculously expensive private school, and don't live like you have all the money in the world, you shouldn't end up with much debt. I put myself through school, worked 40+ hours a week the whole time (except soccer season, when I only worked about 25 hours a week), didn't take expensive trips and vacations like Spring Break in Cabo is some kind of right, and when I graduated I would have had no debt if I hadn't taken out a student loan my senior year to buy a car.

Go to an in-state public school, maybe even start at a community college to get some general ed out of the way, work, and don't act like you have an endless supply of money to spend on whatever you want and college is affordable with little to no debt.

In-state public schools IRL FTW. My mother's job makes me eligible for a tuition break, and I thanked my grandparents every day of senior year of high school for the $50,000 college fund they set up for me. Throw in affordable fraternity housing, $14 a week for group dinners, and a willingness to work during the summer despite already having some money, and I'm pretty much set.

[The Artful Dodger]

Has college become worthless? Yes and no. No, it hasn't become worthless because now a college degree is sort of a required standard to get what constitutes a good job in the working world. Yes, in a way it has become worthless because there's a lot of competition between job seekers with a bachelor's degree and along the way, a degree loses its value. Imagine graduating from college, with a great academic track record, extracurricular involvement, and a couple of internships under your belt. Problem is, most of your graduated peers have about the same skill set and experience on paper. Granted, it depends on the competitiveness of your local job market, but even when that crop of employees have 5 years of working experience under their belt, there's still a lot of noise in the job market for employers to find and hire the right candidate. Having a master's degree can get you an edge over the rest perhaps because of the extra education. However, if you spent two years of your life studying, this could put you at a disadvantage because of the lack of real-world experience, especially if you're changing careers. Still, a college degree is a stepping stone to landing a good full-time gig in your first gig, which in turn can lead you to a satisfying career.

As far as debt goes, I went to a private institution and over 4 years, it came out to over $100k. The nice thing about my alma mater was they were very generous in the number of grants, scholarships, and work-study opportunities. My family and I only needed to take out $20k in debt. Consolidated at a fixed interest rate and the monthly payments are very manageable (in fact, they're paid off now ). I also studied abroad in France for a year and comparative to the US, studying in Europe is actually cheaper than Stateside.