Recently my family attended an event sponsored by my daughter's high school regarding what it takes to get a child into a "highly competitive" college. Some guy in the back of the room, during the Q&A time, asked if spending so much for college actually makes economic sense. What with so many 'humanities' and 'literature' majors out in the job world flipping burgers, why spend $50K plus a year for a "good" college degree when their career path will lead them to a job that pays $35,000 a year after they gain experience as an unpaid intern/volunteer, etc.
Then I stumbled upon a blog. I think this guy makes some great points, but I wonder why he limits his choices to 8 when there is a very obvious 9th choice . . . joining the military. Seems that a lot of folks thrive in the service and grow up and while they went in kids they came out men (and women).
Then I stumbled upon a blog. I think this guy makes some great points, but I wonder why he limits his choices to 8 when there is a very obvious 9th choice . . . joining the military. Seems that a lot of folks thrive in the service and grow up and while they went in kids they came out men (and women).
Agree or Disagree?
I am a college grad and whole heartedly agree with Mr. Altucher.
In my opinion, the college education is over-rated.
James Altucher's 8 Alternatives to College
Posted Feb 08, 2011 08:00am EST by Aaron Task
It's been nearly a year since Formula Capital's James Altucher discussed his theory on why sending your kids to college is a bad idea. The segment proved to be one of Tech Ticker's most popular...and controversial of 2010. (See: Rethinking College as Student-Loan Burdens Rise)
More recently, a report based on the book Academically Adrift: Limited Learning on College Campuses found that after two years of college, 45% of students learned little to nothing. After four years, 36% of students learned almost nothing. (See: Brain Drain: Most College Students Learn Next to Nothing, New Study Says.)
Meanwhile, the cost of college keeps rising -- 20 times the rate of inflation and much faster than say healthcare costs -- and student loan debt keeps growing. As of mid-2010, U.S. student loan debt totaled $850 billion vs. $828 billion for credit card debt, according to the Federal Reserve.
So with more people coming around to the idea that maybe Altucher is onto something (vs. being on something), the money manager and author is back with a follow-up: The 8 Alternatives to College:
In the accompanying video, Altucher "repartees" with Henry and me about his alternatives to college and addresses the most powerful thing working on behalf of higher education: The huge gap in employment between those with and without college degrees.
I am a college grad and whole heartedly agree with Mr. Altucher.
In my opinion, the college education is over-rated.
James Altucher's 8 Alternatives to College
Posted Feb 08, 2011 08:00am EST by Aaron Task
It's been nearly a year since Formula Capital's James Altucher discussed his theory on why sending your kids to college is a bad idea. The segment proved to be one of Tech Ticker's most popular...and controversial of 2010. (See: Rethinking College as Student-Loan Burdens Rise)
More recently, a report based on the book Academically Adrift: Limited Learning on College Campuses found that after two years of college, 45% of students learned little to nothing. After four years, 36% of students learned almost nothing. (See: Brain Drain: Most College Students Learn Next to Nothing, New Study Says.)
Meanwhile, the cost of college keeps rising -- 20 times the rate of inflation and much faster than say healthcare costs -- and student loan debt keeps growing. As of mid-2010, U.S. student loan debt totaled $850 billion vs. $828 billion for credit card debt, according to the Federal Reserve.
So with more people coming around to the idea that maybe Altucher is onto something (vs. being on something), the money manager and author is back with a follow-up: The 8 Alternatives to College:
- -- Start a business.
- -- Work for a charity.
- -- Travel the world.
- -- Create art.
- -- Master a sport.
- -- Master a game.
- -- Write a book.
- -- Make people laugh.
In the accompanying video, Altucher "repartees" with Henry and me about his alternatives to college and addresses the most powerful thing working on behalf of higher education: The huge gap in employment between those with and without college degrees.