Financial columnist James Altucher recently published a column wherein he challenged the conventional wisdom regarding the value of a college education. He oversimplifies the argument to some degree and throws in a bit of hyperbole, but I believe his point is nevertheless made effectively. Altucher points out that the college degree industry is just that, an industry, and has, in a very mercenary fashion, capitalized on the long-held cultural notion that anyone without a college degree is certain to be economically diminished as a result. Altrucher trashes that idea in his piece, which you can read here:
While I don’t personally agree with everything Altrucher says, I applaud his effort at bringing attention to the very real financial challenges , both short- and long-term, facing the huge numbers of academically-average young people contemplating attendance at one of the thousands of mediocre colleges and universities that dot the countryside.
The issue, of course, isn’t exclusively the money…there are quality state schools that cost far less than practically all of the private institutions out there…but rather the matter of the money, combined with the quality of the school, as well as the student’s choice of program of study. Depending on the totality of those considerations, a college education might make a lot of sense for someone, or it might make no sense at all. It’s the latter group that Altucher is clearly addressing here.
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Bob Yetman, Editor-at-Large at Christian Money.com (www.christianmoney.com), is an author of a variety of materials on personal finance and investing, as well as on topics of fitness and self defense, to include the recently-released book Investor's Passport to Hedge Fund Profits (John Wiley & Sons, Inc; www.investorspassport.com) and the new unarmed combat training DVD Thunderstrikes - How to Develop One Shot, One Kill Striking Power (Paladin Press; www.mikereevesonline.com).