Bill Bennett: Is College Worth It?

100%.

If you hire they guy who's less qualified "on paper" and he doesn't pan out, now you're job is on the line.

You hire the guy with a Harvard MBA and he doesn't pan out, who could blame you.

 

This is very true in law.

 

Figures it's getting worse because so many companies have online applications that basically look for certain search terms, and if they're not in there, you don't get a sniff.

 

You know why some people get into a four-year degree program and don't finish? Because it's too fucking expensive.

If I had it to do all over again, no way would I have gone to college. I would have learned something useful.

 

On the other hand, you know why you do finish? Because you can't write off student loan debt in a bankruptcy. That's another reason college costs so much -- because everyone knows they're first in line to get their money, no matter what happens to you.

 

Take a look around where you live. Where is there new construction going on?

The majority of projects are in three areas: government buildings, hospitals, and colleges.

All three of these areas have basically insulated themselves from the economy.

 

My brother-in-law is living proof that bypassing college can work out very well if you're willing to work your ass off.

He went to work for the local water authority as an entry-level grunt -- cutting grass, painting fire hydrants, etc. -- right out of high school. We all thought he was nuts because he's really smart and could've done well in college, but he had no interest in staying in school and wanted to get started with his life.

25 years later, he's worked his way up and supervises the plant's operations. He makes $130,000 a year and is probably going to take a six-figure consultants job with a software company when he's able to retire at age 50.

Meanwhile, me and my awesome journalism degree are doing exactly what my father told me I'd be doing a long time ago: Working like a dog in a $45,000 a year job and feeling extremely fortunate to still be doing so.

Point is, one size does not fit all when it comes to life. Lots of kids are going to college because their parents insist on it, and despite the best intentions, they're winding up unemployed and in a heap of debt for the experience.

Many middle-class folks like myself no longer can afford for our children the status symbol that college has become.

 

My brother and I are polar opposites when it comes to how college can work:

He has a master's from Georgetown in International Relations or something like that, works for the State Department as a FSO stationed in Cyprus, pulling down probably close to $100K a year.

I have a BA in Journalism and with OT at my manual labor gig I make $40K. But I really like my job.