#003 Is Going To College Worth It Anymore?
The economics of a 4-year degree have changed. So is it worth the high price tag for that diploma?
Point #1 For – One of the biggest selling points is that graduating from a university and becoming an alum makes you part of a network and network = net worth
Harvard just announced it was doing the entire Fall 2020 and Spring 2021 semesters online due to COVID-19. No onsite classes. But what didn’t change was the tuition! Students will stay have to pay the full $50,000/year.
Harvard is telling you what a college degree is worth! The tuition isn’t about classes. It isn’t about quality of professors. It isn’t even about facilities. It’s about brand and network. That’s it.
Point #1 Against – It’s never been easier to grow your network before!
If I don’t spend $50,000/year at Harvard or any other schools, I could probably develop a fantastic network if I took even $5,000 a year out to wine and dine potential employers and still have $45,000 leftover.
So if its all about network, having a degree isn’t necessarily the best way to go about that.
Point #2 For – College prepares you for the real world
You go from living with your parents and having a set schedule in high school to having to manage your time and day. You show up to class and a professor hands you a syllabus and then the rest is up to you to figure out! These are valuable life skills.
Point #2 Against – The real world prepares you for the real world, college is a bubble
Imagine taking $50,000 out to start a business instead. You’ll learn more about that industry and field in a year than you would in four years buried in books and running hypothetical models in your given field.
Point #3 For – People who have 4-year degrees earn more money over time
This is a fact. Have a college degree. Earn more. End of debate.
And while it does depend on what type of degree you get, the average high school degree earns $40,500, associates degree gets you $50,100 and a bachelors gets you $65,400 according to the College Board research.
Point #3 Against – People who have 4-year degrees have more debt and risk
Sure. People with bachelor’s degrees earn more. But they also owe more!
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About the Podcast
If working a 9-5 for 60 years so you can retire with a little money and die a few years later is what you want to do, then this is not the podcast for you.
Stephen is an executive coach that works with executives and entrepreneurs to build the life that they want, personally and professionally.
This podcast is about contrarian investment strategies around time, energy and money to build the 4 types of wealth and utilize lifestyle design to create the life we want. The interviews are with hi-earning individuals on how they make money so you can copy us and grow wealth too!
Reaching that first $100k milestone is crucial and then the game changes.
Learn how the wealthy view time, energy and money so you can apply these proven strategies to your life.
