Are college degrees overrated?

[Dan Druff]

It's also important to realize that there is a wide variance in the cost of a college degree.

The cheapest way to do it is to go to junior college for two years, and then transfer to a state university. If you live cheaply, you can get out with FAR less debt than the average college student.

My first year in college -- now 23 years ago -- was only $1800 in tuition. It was a University of California school. The tuition is MUCH higher nowadays, but still a lot cheaper than private colleges.

College degrees are often required at large corporations and government jobs.

For example, I worked as a programmer at a defense contractor in the summer of 1992. I was paid a total shit wage (something like $11/hr) because I didn't have a college degree yet. The government would not pay them for a programmer who had no college degree, so they had to give me some weird low-end title and just let me program.

As has already been pointed out in the thread, some employers just like to see a college degree because it indicates you had some responsibility.

As you gain more work experience, your college degree becomes less and less important, but it's often a big deal to have in order to get your foot in the door.

The people who fuck themselves are the ones who go to expensive private colleges, and then major in something like English, which doesn't have much practical use in the workplace. They come out $150k in debt, and they realize that the jobs they can get are also offered to high school graduates.

If your parents are rich and you want the experience of going to a well-regarded private college, that's great. However, if you're looking to get more bang for your buck, go to a state school and live as cheaply as possible.

[Anal_Hershiser]

I was paid a total shit wage (something like $11/hr) because I didn't have a college degree yet.

It looks like minimum wage in CA was $4.75 in 1992. Almost 2 1/2 times minimum wage doesn't sound like a "total shit wage". I know some people today who would love an $11/hr job, and minimum wage in WA is now $9.19. College degrees in reality are worthless. But in the system we have, unless you are brilliant or have a great idea, you really need one to be successful. Obviously there are tons of examples of successful people who don't have them, but the majority of successful people do have them. Bill Gates is an exception, not the rule. If I were an employer, I would much rather have someone who has 4 years experience in a given field than some asshole who has sat in a classroom for 4 years and was stupid enough to pay $100,000 for an education he could have got for free at the public library (yes it's a GWH quote, but it is the absolute truth).

[gut]

It's also important to realize that there is a wide variance in the cost of a college degree.

The cheapest way to do it is to go to junior college for two years, and then transfer to a state university.

Pretty much true, except now most halfway decent public high schools should offer college credit as well for advanced classes and the like. If you spend a small amount during high school, you can practically enter a bachelors program with the equivalent of 1 year down, at a much cheaper cost.

[offthetop]

be glad you don't come from Russia or another similar country. I have a Russian colleague who has a PhD (I can't remember what but it something non-scientific). She said its pretty common to need such a high level of education to get a decent job.

[The_PHA]

They come out $150k in debt, and they realize that the jobs they can get are also offered to high school graduates.

This is the problem, you have a new generation of early 20 somethings coming into debt they cannot possibly repay back. And you cannot even declare bankruptcy and get away from a college loan. You are stuck.

Personally, I have no debt, not even a quarter. This is precisely why I do not own a house, because I do not want to be indentured to anyone. That is another scam, where you need to own a house and be strapped with a mortgage to lay claim to being successful. I have a buddy with two kids in a $300,000 house. 5 years ago he put a huge pool in his backyard and rolled that into his note, he had a big party in August one year and he was walking around showing us shit. I was over there this past July and pool looked like shit and his wife is out of work and there are no more parties

I see a lot of friends strapped with shit just because they bought into the rogue that you needed xyz to be accepted.

Stay out of debt, pay cash for everything. If you have to own a house, put down 50%.