Day By Day© by Chris Muir.

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Friday, June 3, 2011

Why College is a Scam

I found this informative video on how college really isn't all it's cracked up to be.  As I said in a previous post about higher education, there is education, and then there is credentials.  If you want education you can get it online, and a lot of it you can find for free.  Credentials are what can be expensive; however you can test out of a lot of an undergraduate degree, and/or go to a discounted program like Harvard Extension School.

Most interesting to me in this video was near the end where they were calculating the real cost of a degree that would earn you $1MM more during your career (this was the figure thrown out by the education industry) and having it come out about $450,000 due to having to spend 6 years in school to get a sufficiently advanced degree, paying 6% interest on the price for 10 years, and losing your earning potential for 6 years while in school.  Also many high earners they interviewed are actually entrepreneurs who don't think that their college education did them much good vis a vis their enterprise.

With hyperinflation around the corner and the possible attendant miseries (rioting, hunger, martial law, lack of health care, crime), perhaps going to college is not the best idea right now.  Better to spend the money on your own personal infrastructure and security.  You can still get online (for now) and learn stuff on your own.

Here is the video.
By the way, it may soon become a felony to embed videos in this manner if they are copyrighted material.  Just another way Big Brother is trying to keep the flow of TRUTH down.  I suppose one could just put a link instead, but that's just annoying.  Guess I should research "fair use".

1 comment:

WildernessReturn Ontario said...

There is a Canadian Book called "The Millionare Next Door"
This book covers similar information and states there are more millionares made from Labour type jobs, Plumbers and Electritions than most University Grads. It also goes into the reason why these people were able to make so much money.