College may not be worth it. I think the whole concept of college as we know needs to be rethought. While higher learning is admirable, the college experience in the USA I think is useful more as a “life experience” than anything else. I could easily make the case that college is a terrible investment in terms of return on investment. At 20 years of age for example you could borrow $100,000 to go to school for 4 years and pay off that loan for the next 10 years while growing a traditional career. That’s fine and perhaps even the “norm”.
Or you could also take $100,000 at age 20 and overfund a whole life insurance policy to create a “high cash value” life insurance policy that would serve as you’re own private banking facility allowing you to purchase other assets that can permit you to leapfrog ahead farther and faster while having protection. That is to say – take out a a million dollar policy for $10,000 a year but sock $20,000 into it each year for those 5 years. At 25 you’d be sitting on a $1 million death benefit that will only grow as you get older, plus have all of your principle intact with the ability to make all sorts of good moves financially (which I’ll get into on another day).
It is also probably time to also completely rethink the way college students access their material. With the speed and convenience of the internet, do you really need to haul off away for 4 years someplace for a basic Bachelor degree? Seriously, you could easily do a 4 year degree in 2 years via the web from top universities around the world without the need to move to the school. Forego the “traditional” college experience and pick up all sorts of other “life experiences” instead.
Now for some really amazing figures, take a look at this graphic. It might make you rearrange the way you think about learning and what’s the point of the whole college experience in the end.