College is overrated. If you don't actually plan on getting a job related to the degree you earn (which a TON of people don't) then you're wasting time at college.
Not quite true.
The report titled "The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings" (.pdf) reveals that over an adult's working life, high school graduates can expect, on average, to earn $1.2 million; those with a bachelor's degree, $2.1 million; and people with a master's degree, $2.5 million.
Persons with doctoral degrees earn an average of $3.4 million during their working life, while those with professional degrees do best at $4.4 million.
link
It makes those student loan dollars seem a bit more manageable. Not to mention there are ridiculous numbers of scholarships out there if you have the grades, athletic ability, work ethic, connections, or willingness to fill out the paperwork.
bullsh#t.
Yes, on average somebody with a college degree will make more money than someone without it. However, the number in the millions is ridiculous, it's much
closer to $300,000.
Economists at Princeton and the Federal Reserve agree.
And the reason that the statistic doesn't matter either way is because it compares all degrees to all non-degrees. Who do you think is going to affect their side more? A doctor or a greeter at Wal-Mart? But are those two people comparable
at all? No. Truth is that if you're somebody who is on the fence about what to do, don't know if you really have that many skills, and plan to earn some generic "sociology" degree, college will do nothing but cost money and take away 4 earning years. If you are smart and plan to get a well-respected degree then go to college. If not, you should seriously consider what value it is going to add to your life.
Throw in the fact that the "extra" money is made at the end of your life, not the beginning. If you don't go to college, you'll make money now. If you go to college, you'll make more money, but in slow increments over time. The time value of money makes a huge difference in that.
Also consider that loans might mess up your life. You could possibly delay purchasing a home or delay having children because of those suckers.
Is it worth it?
So you make the call. There are a ton of benefits to college. Just know that it's not always the right choice.