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Is a College Education Financially Worth It — Or Is It a Giant Scam?

Sterling White
2 min read
Is a College Education Financially Worth It — Or Is It a Giant Scam?

Is it smarter to go to college or jump into real estate to invest full-time?

Has college in America become one of the biggest financial scams in world history? Or is it still a smart step on the path to financial security?

While college can be a great way to find your life’s passion, I also believe it ultimately should not be one of the select few options pushed upon young adults.

Of course, this opinion may be a little biased, considering I grew up uninterested in school. I was far more excited about the periods between classes. That was my time to come alive and hustle. One day, you might be buying Pokemon cards from me on your lunch break. Another day, it might be candy or CDs for sale.

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How Many College Students Are Simply Following the Herd?

However, I think that I also have a unique point of view on this — an educated view that entitles me to portray the options fairly. This debate is often waged between the schools and their sales machines versus real estate elites who never went to college. Sometimes I feel like I may be one of the few who went to college but has also become a real estate entrepreneur.

Related: How I Used Real Estate to Pay for My Newborn Daughter’s College Education

I lasted 4 years in college studying for a degree that absolutely could not be applied to my everyday life. Period.

In deciding to go to college, I simply followed the herd without a second thought. That, of course, is always a mistake. Today, this is a mistake being made in every type of community in America, from the most privileged to those who have never had a family member attend college. Fortunately, during my stay in college, I found my interest in the real estate world.

College is Big Business

Obviously, I do believe certain occupations require a college degree. Few of us would want to find out our doctors or lawyers had never been to school. Yet other than that, I believe it’s a big business. From the universities’ perspective, it’s all about business. We’ve all heard of the student loan crisis — the crisis that could next cripple our economy and that is the primary reason many Millennials cannot buy homes. Yet tuition keeps going up. Thankfully, there is student “aid” and financing, right? Of course, although tuition keeps going up, students keep coming out of school to find their degree doesn’t help them get a job.

Education is important, no question about that. However, considering our ever-changing world and new technology, there are many learning options. There are options that won’t leave you with a big lump of debt for the rest of your life. College can be great. We’ve heard billionaire Peter Thiel pays people $100k to quit college and that many successful entrepreneurs have dropped out to build prosperous companies. But at the same time, the connections that are made in school can be very influential in any venture.
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Related: How to Pay for College Using Real Estate: A Definitive Guide

What’s the Right Choice for You?

So college or entrepreneurial investor? I recommend taking some time to think about it up front. What do you really want? What do you enjoy doing? What are you good at? Avoid following the herd. Think for yourself now, and choose the path that will fast track you to where you want to be and provide you an enjoyable journey there. You shouldn’t feel obligated to burn years of your life and to take on the stress of mountains of debt just to figure out something you could with a few hours of devoted thought now.

What do YOU think?

Let me know your opinion with a comment!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.