Many folks who go to college end up making more money over their life time than those who do not and yet, we know that some of the top billionaires in the world skipped college or even dropped out. But, how can this be possible if college makes you smarter and teaches you how to earn a solid living? Well, college does teach you how to earn a living and the statistics do not lie; folks that go to college on average do make more money.
Not long ago, someone who studies education and even offers online classes in several subjects stated that; Education plus Life Experience is equal to a full on college degree. This is an interesting statement, and it assumes that one’s education in industry or personal studies is worthy, it’s not always, but if it were, this statement makes sense.
When they say that; education + life experience = a college degree type education; I believe that they are giving far too much credit to a college education. I believe that experience and actual know-how far trump the brain washing of a college education. Look, Bill Gates is no idiot, neither is Michael Dell or anyone else that left school after seeing it for what it is. Some say that the fact that people can drop out of college and become a billionaire is a testament to the freedoms and free enterprise we have in America, where opportunity abounds. If billionaires can become that wealthy after dropping out of college then what is a college education really worth these days?
Well, if you look at the statistics and the time value of money, it almost seems like a wash considering the high-price of colleges and universities. Those who borrow the money for student loans spend years trying to pay them off, while the compounded interest ticks away. Someone who goes to work, learns a trade and starts their own business often live next door to the professional laden in education debts. It is indeed something to think about.