Dear FutureMoneyTrends.com Member,
Conventional education is done! Not only has the cost risen far higher than the value, but the thesis for having a college education is falling apart. Google is now taking kids right out of high school, making them interns, and at the end of their 4 years with Google, they either hire them or send them on their way into the workforce. Now, if you were IBM, Apple or Dell, who would you hire: a college graduate, or someone who was trained by Google?
This is happening in other sectors as well. Young people are opting out of college, instead choosing experiences and working with mentors as interns or for low wages, in order to learn through doing. With the advancements of technology and the way our world works, college degrees are now obsolete before a student graduates. Here are some important stats to consider…
- 45% of college graduates are working in a job that doesn’t require a degree
- 51% aren’t working in a job is in their field of study
- The average college graduate took 6 years to attain a 4-year degree
- $28,400 is the average in college loans a student has after graduating
What these statistics don’t include is the loss of opportunity, 4 to 6 years of school and studying for thousands of hours on things the student doesn’t care about, will never need, and isn’t even in their field of study.
Steve Jobs — who referred to himself as a college drop-in — had it right: if you want to go to college, go drop in to the class you want to take. Of course, thanks to the Internet, even this isn’t really needed anymore, Standford and many other top schools have many of their college courses online for free!
Today, via Twitter and other social networking sites, we have access to almost anyone. I’ve emailed several billionaires to discuss investing, and almost all of them have emailed me back. I’ve tweeted James Rickards, advisor to the Pentagon, CIA, and major hedge funds around the world, and guess what… he replied. When I wanted to learn more about the newsletter industry, I emailed Doug Casey, who had been in the business for 4 decades. He ended up offering me a Skype conversation for 30 minutes.
Our world is shrinking, and the lock that colleges once had on who was qualified to get a good job is crumbling. Students are now realizing this, graduating with phantom mortgages, where they have all the debt, but no home.
Unless you feel like your kid should be exposed to sleeping in late, socialism, and LSD, there really isn’t a need to send your child to college.
It’s true, the government has made some licenses and fields degree-dependent, but soon those fields will crumble, too, from the weight of government regulation. Look at doctors today: the older ones want out of the business and the younger ones have become overwhelmed with regulatory paperwork and have become completely restricted and denied the right to practice medicine. Many good doctors who are curing cancer without radiation and chemo have been run out of this country, instead working overseas or just across the border in Mexico. One clinic in San Diego has to do their treatments in Mexico because curing cancer outside of expensive drugs and poisons is illegal here in the U.S.
In next week’s Weekly Wealth Digest, we will cover some of the great alternatives to college.