This question has been coming up among young people over and over again in recent years. This is because some of the world’s famous billionaires, especially in the tech world, are college dropouts. So, it is no wonder why a high school student will wonder if attending college is worth it after all. Saying a college education is worth it or not depends on your point of view and your ultimate goal. Looking at the costs and the prospect of getting a job in your actual field of study, it might seem like a hassle you don’t want to undertake. However, when you look at attending college as a means of equipping yourself for a better future, and positioning yourself for a better life, it might well be worth the time and money. Let’s know Is college worth it. We will take a brief look at the pros and cons of attending a college in this article.
Why does college seem so important to many parents?
In times past, earning a college degree is synonymous with winning a lottery, and any family that happens to have one or more graduates in it stands out in society. This is why most of our parents these days have that mentality.
Why should I attend college?
There are many reasons why attending a college could be good for you despite all the myths flying around about college.
- The number of college dropouts that eventually make it big is not that high. If you are looking at people like Steve Jobs, Mark Zuckerberg, Bill Gates, or Oprah Winfrey, what should come to your mind is, “what percentage of college dropouts do they make?”
According to research, only about 1 in 8 college dropouts eventually make it big. Using a high school probability test on that, the likelihood of you being one of those is very slim.
- Most college dropouts regret the decision later in the future. It could seem cool to drop out now, but maybe try looking at your present potential and the future you are heading towards before making that decision. There are people born with the innate ability to make things happen that translates to money without a college degree. But the 6% success rate of college dropouts among US leaders as against the 94% of those that went to college (about 50% being ivy league schools) should paint you a picture. That picture could be simply summarized as not all that glitters is gold. Don’t be quick to fall for the glamorous bias and narrative.
- Attending college gives you an edge, even if you want to branch out to do something else after. Peradventure you have a mindset to get into a venture like becoming an entrepreneur with a potential to boom, having a college degree may give you an edge by broadening your thinking capacity. The likelihood of a college graduate owned entrepreneurship to succeed is quite high
It will interest you to know that even the successful college dropouts rarely employ that who did not go to college. Yes, they could give room for innovative thinking. But ask yourself this, “how many of the hires in their multi-billion dollar companies are college dropouts?” Some won’t even hire people with less than a Ph.D. for certain positions.
In fact, according to Forbes, the number of jobs requiring a college degree may increase to about 70% by 2027. So, even if it’s a bachelor’s degree, endeavor to have it.
Why college may not be worth it
- No guarantee of getting a high-paying job, if you get one at all. This is probably the most determining factor for the discouragement most people have about college. After doing all that work to earn a degree, you don’t even get a job that could keep you afloat (underemployment) or none at all. The minimum wage is also not helping matters.
- Accumulation of student loans. If you are unlucky to not get financial aid or scholarship and have no trust fund or parents to help pay school fees, you might be so deep in student loans before you finish. If you get a good job, you may be able to pay off the debt in 10 years, depending on the payment plan you chose. Otherwise, it could take longer.
- Not exactly the preparation you may wish for. Looking at the curriculum of most colleges in the US, they are designed such that you end up taking courses from all over that you begin to wonder how those are relevant to you. If you are looking for a more streamlined education, a college education may seem like a waste of time after all.
Conclusion
Before you take that step to drop out of your college, think about your prospects and what you stand to gain in the end. If not for anything, for the prospect of having a better outlook on life itself, college might be worth a shot.
FAQ
- Is it possible to make it in life without college?
The quick answer is, yes. Equipped with the right mindset, goals, plan, and ability to invest in yourself, and take risks, you can make it as an entrepreneur without a college degree.
- Do I need a college degree to become a successful entrepreneur?
While most small-scale and some large-scale entrepreneurs do not have a college degree, the fact still remains that those that do have one tend to be better in their approach to business – think Elon Musk who only dropped out of a Ph.D. program but had two Bachelor degrees. This puts them on a higher pedestal than their counterparts.
