Yeah, that's what I thought too..............
This was the single biggest mistake of my life. You may find the lessons to be useless, but the doors that shut down hard if you don't finish will permanently cripple your ability to succeed in the future.
I've been working 2-3 full-time jobs since I was 15. The work is NEVER consistent, nor will your income ever be. Any dreams of fame or success will evaporate instantly the second you walk out the door. The main focus for the rest of your life will be sustenance- you will start to dream about stability.
For some people this holds true.
I have to express that probably the biggest lie of our time is that education=higher pay.
With the huge influx of non-college grad techies in an around San Jose who have made a killing in high tech from obvious examples like Zuckerberg, Jobs, and Ellison to many unknowns equally good at what they do in juxtaposition with tons of college grads and advanced degree holders who are seriously underemployed, I have seen a much different picture.
I think with this great recession, we will see a higher percentage of college grads struggling in this job market than non-college grads and stats have backed this nationally and not just in California. Of course, the highest unemployment sector of college grads over anybody else is largely sprinkled with those who are unwilling to take a job they consider too low for them.
I think what we will see is a whole class and generation of people with a lot of schooling but a broken work history. Remember many college grads may come from families that have discretionary income allowing those college grads to not have to work. This will only increase the unemployment rate of those with a college education. It is the most alarming among those who just finished college up to a few years out. They are moving back home in a massive migration not seen before.
The trend for most who are with college could be: 1) grow up with family, 2) move out and go to college and attain degree, and 3) move back home. This used to be rare but now it's the most common scenario. Since many are saddled with college student debt, there's almost no way to move out on own after college while still trying to whittle down debt. It's a big issue that doesn't see any easy resolution.
Without getting "political" here and making this a no-no topic, it's possible that with the withdrawing from two major wars will give Uncle Sam more funds for education and maybe tuition rates can then come down and make it closer to what it once was as an affordable option. Thirty or forty grand a year for college with a six or seven dollar an hour raise does not work out to be that good. Even if college guarantees a doubling of income, it still won't justify the cost unless we are talking about a long term 50 year career with gradually increasing income. Right now it's about $650 USD a week for high school grads with about $1,100 weekly for average college grad. Taking into account inflation and taxes, it will take a long time for $450 a week to whittle down a $100K student loan debt. There are a lot of scenarios where $1,100 dollars a week will never make it possible to knock out such a large student debt. What if you have kids, what if somebody gets sick, what if where you live has high rent/mortgage, etc?
It's a bleak picture for many.
I am not saying college is bad and I am glad I did it, but I went in knowing that college was not automatically any free ticket to having a better net worth after retirement. My teacher told me, "These days, college is more about self-enrichment and is no longer about making more money!" This was back in the late-70s but is more true today in 2014.
Yes, you make make more money per hour with college degree but with the reality of student loans, you will probably be in some student debt most of your working life but certainly have a smaller net worth at age 50 because you went to college for four years. This was not the case when the GI bill made many go to school after WWII, but perhaps with too many going to college through these means made a such a massive surplus of those with four years degrees and thus making it close to worthless in many cases. If anything, the advantage of a four year degree is non-existent in 2014.
It may just be another high school diploma, joining the diploma in similarly large numbers but not being much different in what if offers. All this time the high school diploma probably stays the same in earning power and is not discounted any by those with college degrees. In short a college degree holder is a high school diploma holder with four years of extra education to the employer. In most cases there is no added value of having a four year degree holder as an employee. There are a few special four year degree holders like engineers or military officers who may make more with added four years, but for most there will be no difference. Will a business, English, maths, sociology, psychology, liberal arts, or biology bachelor's degree holder make more in most jobs or should they?