Earlier quoted context omitted.
I thought it was - 'there is no cake'.
Delicious Cake. I must eat it.
The cake is a lie.
College is a waste of time and money for kids
71–72 of 72 posts
Re: College is a waste of time and money for kids
#72Earlier quoted context omitted.
A) When you look at the high numbers you need to ignore scholarships as many don't qualify. B) Its a 5 year school so 30 * 5 = 150k not 120k C) You could be making a lot of money if you worked instead of spending all that time in school. Finally, you could get significant returns if you invested your first years tuition by the end of 5 years.
The fifth year is quite possibly a year of work-study, like in my degree. Either that or adding a second degree/masters, which is going to increase earnings potential hugely. I have seen statistics before about how having a degree positively influences your earnings potential, but I have yet to see anything but "feelings" from those claiming going to college has a negative effect. If we're going on anecdotes, I serio…
I think there is value to looking at anecdotes because the average collage student is better connected and more intelligent than those who skip it. Most of my friends have collage degrees. Of those who don't one was making 120k/year before he died. One charges 100$+ per hour and is constantly booked. And the last guy is 29 and makes 140k / year at yahoo. IMO a large reason for the disparity in lifetime earnings between those with a collage degree and those without are the type of people who go to collage.
For most people staying in school is probably a good idea. But, when your options are to stay in school or drop out and make 70+k / year staying in school seems less useful. Would these people make more money in 5 years with a collage degree well possibly, but they are making good money now and investments compound with time so it would have to be a huge increase to be worth it.
PS: Doctors get paid a lot latter in life but on average they don’t retire younger than most people.