Why do people waste so much money on college?

Question

Its really who you know so why bother putting yourself in debt?

Answer 1

The question is predicated on the notion that the only aim to going to college is to obtain a lucrative career. There are many other reasons to attend college that include expanding your intellectual horizons, being exposed to ideas and subjects that you might not otherwise entertain, and to interact with other people who have diverse philosophical, political and cultural backgrounds in an environment that allows for the free expression of these ideologies.

However, let us put aside these issues of personal enrichment, and look at university attendance purely from the vantage point of attaining a career that yields great monetary rewards. Sure, in some cases you will find that those individuals who don’t have college degrees, but are savvy enough to get connected to the right people will, in some cases, be able to surpass those who are educated in the job market. Yet, however disconcerting this fact may be to an individual who went through all the vicissitudes and debt involved in getting a Bachelor or Masters degree, this occurrence is the exception, not the rule.

From a statistical standpoint, a person who obtains a Bachelors degree or Masters degree, from a reputable university, is more than likely to earn considerably more throughout his lifetime, and is more eligible for promotions. Just peruse the Internet for studies comparing the income of college graduates verses non-college graduate and you will realize there is an appreciable difference between those who have a degree verses those who don’t.

Furthermore, even in those careers, that require no collegiate training, such as construction work, plumbing, car mechanics, and various technical occupations, the hours that these individuals have to work, and the working conditions these individuals have to endure, make the slightly less paying job, that requires a college education, preferable.

What would you like to do, after all, – work a job that requires over 70 hours a week, is back breaking, and has meager benefits, that gives you an extra $10,000 a year, or would you rather work in a job that requires a college degree that pays $10,000 dollars, but gives excellent benefits, ample vacation, and requires minimal physical exertion.

Let me bring the point home with an analogy. Your average midlevel computer programmer, most of whom are college educated, or whose positions require a college education, make anywhere from $60,000 to $80,000 in the corporate world. A good certified mechanic, working for a upper class car dealership makes this amount, if not more. However, that same mechanic doesn’t receive the same amount of vacation, has to work 6 days a week, and normally puts in 80 hours of labor. Furthermore, this same individual is subject to hazardous conditions that can be injurious, and since his job is physically laborious, any impairment can result in lost wages or the complete loss of his career.

To use myself as an example, I graduated with two Bachelor of Science degrees. I have a friend who works for a car dealership doing estimates. He only has a GED. He made $16,000 more than me, at least per my last conversation with him, and he ascended to his position based on the relationships he has developed at work. However, where I work 9 hours a day, he has to work 12-hour days for 6 days a week; only getting off for Sundays, with no vacation. I get two-day weekends, and every other Friday off, plus great medical benefits, matching retirement, and over three weeks of vacation every year, plus more time off if I want, based on how many hours I work over the 40-hour workweek.

Now suppose that dealership lays him off. Based on his educational background, he is not marketable anyplace else besides other car dealerships. With my college degree, even if the IT market which employs me completely collapses, I can easily become a teacher, or a police officer, or get employment in some other white collared field.

As with anything, there are trade offs. For some entering the workforce, or going to a technical school is more advantageous to them, and is more conducive to career advancement than entering a university setting. The path that one should take is dependent on ones personality and talents.

Of course what one majors in when attending college matters as much as the fact that one attended college. If you majored in philosophy, English, or some other liberal art, don’t expect career options that will give you a salary comparable to a programmer, engineer, mechanic, or plumber.

In the final analysis, you should not be that pessimistic about a college education. Sure, knowing the right people always helps, but having a college education as a backup plan comes in handy when personal connections fail. Success, as we progress into the future, is going to become more contingent on higher and higher levels of education. Just examine the historical trends. Back in the 1940s and 1950s a man could have respectable career prospects with just a high school diploma. Now those same professions, that only required a high school diploma back then, either state that they prefer a Bachelors of Science or Arts degree, or even mandate it. I have seen it in my place of employment, were highly experienced employees who don’t have degrees are being displaced by a young workforce that only have a college degree to their credit. I am sure, within a decade or so, even a Bachelor’s degree will not be sufficient. Even the secretarial positions that are open in my organization are asking for college graduates in English or Journalism.

As society keeps upping the ante on education, we should not dismiss higher education just because a few political astute non-degree holders and brownnosers are ascending the corporate ladder. We need to establish our life decisions on the basis of what holds true for most, not what holds true for a few.

Answer 2

Money or effort spent on education is never a waste.
While it is true that contacts can get you openings only ability will see you through life.Having said that I think you need to choose your college wisely. Find out though websites, friends and by speaking to professors whether what you want to learn will be taught at the college you wish to go to. If you wish to be a janitor or a construction worker or a pizza delivery boy or a mobster all your life then getting a college education is indeed a waste. If you do wish to aim for something higher then i suggest you try to get yourself a good education.

Answer 3

yeah it doesn't make much sense to me either. some people who finish high school and think it's the thing to do, go to college and just wander, more or less, then either get a business degree or something like that which one really doesn't need, however, businesses make it so that for someone to get a good job they need at least a college degree. if you knew someone then that would be easy, but not everyone has connections or can make them, so going to college is a place for them to make them and learn at the same time. but now in the digital age where connections can be made right at home, college seems to be pointless to some extent, the length and the need build some manner of intense oneness. a specialized school for the thing one wants to learn would be so much better and have professional earlier in the game. plus considering how the mind learns, exposing a younger mind to information is better than later.

basically, college as of now in it's current form has clung to the business image and attracts customers with threats and predictions of a horrible life unless they purchase their goods. sound familiar?

Answer 4

Money spent on an education is an investment in the future. Money spent buying a $500 car and putting an $8000 system in it is a waste of money.

Some will say, "Well, if that's what they want it's not a waste." Okay, true enough, but if that's all they want, then they are a waste.

J.

http://www.jrichardjacobs.net

"The speed of the brain is inversely proportional to the speed of the mouth squared."

Answer 5

College is also known as The School of Higher learning or so. Henceforth, it teaches some of the more complex subjects. It helps people specialize in one area or another. Would you really want your doctor, or lawyer to be some bum off the street with no idea of what the hell he's doing?
Plus, colleges and foundations offer scholarships to the brght/talented people who apply for one. Henceforth reducing debt.

Answer 6

Knowledge is power! IMO, a college education is very important and I hope that all my children will strive to go on with high education. Yes, ideally nobody wants to go in to debt in order to obtain a college education. But, not everyone is lucky enough to have an actual college fund and most are willing to do whatever it takes.

Answer 7

People "waste" money on college to get an education. For example, if you wanted to be a doctor, you would NEED to go to college before medical school. Without college there would be no doctors.

Answer 8

sure, knowing people helps a lot in life, however in today's society no self respecting employer would hire a 21 yr old kid who has no higher education. especialy over a 21 yr old kid who went to a well known college. long gone are the days of old when you could get a job by just proving you are smart in the interview. one must have a degree, must know everything about the position at hand.

Answer 9

sorry its actually who you know AND what you know, for 98% of people.

the other 1 percent for what they know solely phds etc and the other 1 per cent, well they are bastards.

plus, I'd hope your family physician went to college. I am one semester shy of graduating debt free, although I go to a really crummy 4 year public.

Answer 10

Because the ability & confidence to think critically, solve problems, and understand complex issues is priceless... it improves your quality of life more than money can.