Besides having the problem of a large student loan, many college graduates face the fact that there aren’t enough jobs for their majors, especially, journalism, political science, and law. But it’s worse than a job shortfall. A “useless” degree makes finding on the job training or an apprenticeship for a skilled trade tougher. Why would a Diebold shop hire a sociology major?
Outside of solid business and economics departments, what percentage of current students know much about personal finance, classical economics or investments? Many qualified commentators opine that if personal finance was taught in college, half the students would quit.
What if the reader has a superior IQ, a S.T.E.M. major, and a part-time job? What if the reader is willing to work 60 hour weeks in their Summer vacations? Transitioning to the real world should be much easier.
Sure, low-income graduates can get income-based loan repayment plans. But the interest will accrue every month until the graduate’s monthly payment amount exceed the monthly interest. Loan payments could have been invested in an IRA.
Choosing an easy major or a seemingly worthwhile major with a high total price tag is counterproductive, if prosperity is the desired outcome.
There are alternatives to college which could lead to a rewarding career. For example, one can:
- Read any business, economics, or computer science book.
- As Sean Parker said, “You can Google your education.”
- There are thousands of how-to videos on YouTube.
- You can go to a reputable trade school.
You can learn every aspect of your employer’s business, like a grocery store or auto parts shop.
You can read The Black Book of Communism or any book at home for the price. Or you can ask to be allowed to read it for “credit” at a college for $1500 tuition, be responsible for a campus “pee-in,” and be the talk of the “concerned” campus diversity officer and staff.
Kidding aside, this blogger’s opinion is that there is an education bubble that puts even worthwhile degrees out of reach. In conclusion, even if you have a scholarship or if your parents pay your tuition, my advice is that you work and take the most useful courses.
And as one Presidential candidate says, “Do your own research outside of class.”