Why most billionaires think that college degrees are useless?
We live in a world where intelligence is measured by the college degree you have and from which university. Parents are willing to spend earnings of their lifetime on a fancy college degree but not a penny on any business idea their kid might have. And this is because they trust a college degree more than their own kids. Yes, that business idea might not be a brilliant one but that college degree also doesn’t garuantee a happy successful life.
If college degree meant success then entrepreneurs like Steve Jobs and Mark Zuckerberg would still be struggling to find a job. On the other hand, they are employing thousands of people. Let’s see why they think college degrees are useless.
1. Huge amount of student debt
Students are just stepping into the real life and they are burdened with such massive debt. A fancy college degree asks for a real handsome student loan. Just when they are done with cramming up for the exams, they are forced to take any job they are getting in order to get out of that student debt. That job quite possibly wouldn’t be their first option, but do they have any other option now? No. Warren Buffet said in an interview he got the same education from a college in Nebraska that he got from Wharton.
It’s not the university that matters, it’s how much you’re actually learning from that education. And anyway, in the real world, education is just one part of your journey, rest is the experience that you gain across the years.
2. No improvement in critical thinking
College graduates are getting their degrees without showing any improvement in critical thinking as in practical situations.
According to the WSJ, “At more than half of schools, at least a third of seniors were unable to make a cohesive argument, assess the quality of evidence in a document or interpret data in a table”. The outcomes were the worst in large, flagship schools: “At some of the most prestigious flagship universities, test results indicate the average graduate shows little or no improvement in critical thinking over four years.”
What does this say about our education system then?
3. No place for passion
It rarely happens that you land a job you actually like and spent half your life studying for. Most of the college graduates go for a job which is high paying and a job that they can easily get with their degrees. They forget what their calling is or what is it they really want to do in life.
They end up spending their entire lives just to pay the loans and mortgages. It’s sad but it’s the truth. That’s how our education system functions.
4. Rising unemployment
With so many graduates passing every year, there are only few who land a decent job. Drowned into student debt and faced with unemployment, most people end up changing the course of their careers. These days, majority of the students are going into trades profession which doesn’t really require a degree and often pay above average wages.
I’m not all against colleges but they are just one factor in deciding if you’re going to be successful or not. There’s nothing wrong in gaining knowledge and wisdom. But don’t make that your whole life. Even if you’re not able to get college education, you can still be successful and happy.