All College Taught Me Was How to Pay Off Loans

[benhebert]

Last night while filing my taxes, I got to the section where I enter the amount of interest that I've paid off of my student loans. I graduated in the Fall of 2011, so I've had a full year of Sallie Mae payments.

The number sent me into utter shock and immediate dispair. While my loan payments are automated through the passive income I've been able to generate through forms of internet marketing, it's still a nasty thing to look at.

College is necessary to get a good paying job.

:Lies:

Not only is college unnecessary today, they don't teach you the right things. There's no approach to wealth like MJ's fastlane or the biggest thing... HOW TO SELL.

Business is about selling and staying cashflow positive. If you don't sell, you don't get paid and you don't have any cash.

Yet as a marketing student we never covered strategies, techniques or the psychology behind making that prospect scream YES!!!!

If it's a companies job to provide you this kind of training, then why go to school at all?

Here are 6 courses that I think should be mandatory at all business school programs. There are a lot more that I would add, but I think it's a good start.

 

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[458]

Either way, you should always have a back up plan. This is where college comes in.

 

[JasonC]

Either way, you should always have a back up plan. This is where college comes in.

IMHO, this backup plan is what keeps us stuck in comfort, which totally inhibits success. Personally, going to college was the biggest waste of my time. The only thing i got out of it was learning a foreign language.. ironically this was when I studied abroad.

 

[JAJT]

Either way, you should always have a back up plan. This is where college comes in.

Employers care less about college than they ever have before.

I'm not saying nobody should go to college but I seriously question it's role in job acquisition these days.

My education was never brought up ONCE in any job interview I've ever had. All they cared about was what I'd done in the past. My McDonald's part-time employment has always been a more important topic during an interview than my college diploma.

It was a harsh, sad realization when I could never get an employer interested in what I thought was 3 important years of my life.

 

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[RBefort]

Sad to think that you need a degree to have a back up plan, but then, all I hear about is having a huge resume gap and not getting employment anyway. If you tried and failed at your own businesses for 5 years, can you get a job as likely or even more likely as you would have if you didn't go to college at all? I think the company I work for just wanted to see you were an analytical person, but they hired people in finance and accounting also. I think it's just all in the interview, personality, and what you've done in the past (like others have mentioned).

 

[Lights]

Use college for what it is.

I think college is nearly pointless, but I am using it for its resources. I'm taking classes that aren't a total waste of time. I am getting paid to go to it. It makes my family proud so I'm not a total loser, and I'm going to get a degree so I could always say "I did college". Even though my family gives me no support, and I have to bail them out of their problems with no gratitude in return. I look at some of my family members, and think to myself, "Wow you're stupid and lazy". This applies to everyone except my mother, but I see her faults too and she just works too hard and not intelligently.

In the mean time, I'm doing other things and trying to spend the least amount of time doing stuff for it. A D is a degree in my book even though I am a perfectionist, I'm trying to spend less time on my studies so I am focus on real things that will help me. It's really sad that I am probably the brightest person in my family, since no one can put together 500 dollars.

I have no problem leaving it if I have too. And the jobs that would serve as a back up plan don't require this either.

But complaining about college won't help the situation either, so either just do it, or don't do it. It doesn't matter in the end. For now, I am going to do it, since I don't have anything else extremely productive going on. I don't even care about the degree anymore... it's just the journey.

 

[theag]

What do you guys think, should somebody who wants to be an entrepreneur go to college?

 

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[DeletedUser394]

If you want to go, go. If you don't want to go, don't go. Every week this comes up. Fact is 99% of us on this forum are never going to accomplish anything close to our ambitions so for some college is a good alternative/back up plan.

People are delusional and overestimate their capabilities all the time. If anything, go to college and party it up, enjoy life. Money is infinite (especially this fiat crap), time isn't, so do what you want and enjoy the ride.

 

[The-J]

What do you guys think, should somebody who wants to be an entrepreneur go to college?

It matters not, but many successful entrepreneurs find their opportunities while in college.

College is meant to be enjoyed. It's also meant to be a teaching tool; to learn time management, to learn discipline, to learn about different points of view. You get to meet so many different people from many different parts of the world in a more personal context than meeting them on the Internet.

Also, if you graduate from college and don't know how to get a girl, then you have wasted your time.

One HUGE recommendation: if you can go to university in a different country, DO IT. It's an eye-opening experience and it gets you acclimated to a different culture, a different way of thinking.

Will it make you rich? No. It may, however, help you become a better entrepreneur.

Also: the thing about back-up plans is complete and utter garbage. As I've learned, ANYONE can make money doing simple things for others. Is the money regular? Not really, but you can at least cover your expenses for the month and spend the rest of your time working on a business. A REAL entrepreneur doesn't need a back-up plan.

 

[EastWind]

If you want to go, go. If you don't want to go, don't go. Every week this comes up. Fact is 99% of us on this forum are never going to accomplish anything close to our ambitions so for some college is a good alternative/back up plan.

People are delusional and overestimate their capabilities all the time. If anything, go to college and party it up, enjoy life. Money is infinite (especially this fiat crap), time isn't, so do what you want and enjoy the ride.

Fact? Speak for yourself! Perhaps the Fact is that you are 99% unlikely to accomplish your goals! You are on your own buddy, don't project your weakness unto the rest of us!

 

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[theag]

So should I go to college or learn how to program?

 

[danoodle]

This a common thread topic but I feel people should only go to college if they want to do something that requires a college degree. Engineering, teaching, medical school, law school, whatever...anything else can be learned on your own and most likely for far less than the price of college. Even the "college experience" can be "bought" or just live in a college town and hit up the bars/frat parties.

 

[DeletedUser394]

Fact? Speak for yourself! Perhaps the Fact is that you are 99% unlikely to accomplish your goals! You are on your own buddy, don't project your weakness unto the rest of us!

You clearly didn't understand my point.

Besides actually, it is a fact. Regardless of what one's opinion may be, most businesses fail within 5 years, and by extension, most people.

I only deal with facts, opinions are meaningless.

And where did I project weakness? Just because you don't like objective data, doesn't mean it isn't true.

Most people on the forum and in this world are never going to amount to anything. Is that a reason to not bust your a** and work as hard as you possibly can and just give up? Of course not.

If anything, the fact that true capitalist success is reserved for a relatively 'elite' club is inspiring and drives me to work even harder. I have no desire to be average.

'People lie, numbers don't.' And in the real world, most people don't accomplish their dreams/goals no matter how large and out of control their egos might be.

 

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[MJ DeMarco]

you should always have a back up plan. This is where college comes in.

LOL.

I'm sure that dude with the MBA waiting tables at the local Chile's and that college grad pouring coffee over at Starbucks both agree.

 

[JasonC]

College really doesn't teach much on how to be a leader. The education system is set up to pretty much inhibit our creativity, which is essential for resilience during tough times. Some classes could be useful like public speaking, acting and such, but for the most part college doesn't teach us how to be leaders, that's why so many people with Harvard educations end up working for CEOs who don't have degrees. In other words, they learned to become leaders without needing a degree.

Also, I find it shocking that many doctors know very little about nutrition which really shows how bad the education system is. I have a cousin who is a pharamicist and he's asking me question about nutrition (since I became a health nut)!

 

[ToonMike]

College really doesn't teach much on how to be a leader. The education system is set up to pretty much inhibit our creativity, which is essential for resilience during tough times. Some classes could be useful like public speaking, acting and such, but for the most part college doesn't teach us how to be leaders, that's why so many people with Harvard educations end up working for CEOs who don't have degrees. In other words, they learned to become leaders without needing a degree.

So true!! I've been watching Seth Godin videos nonstop. This is basically what he believes as well.

[video=youtube;Ea5IgyVd3_U]http://www.youtube.com/watch?v=Ea5IgyVd3_U[/video]

Video basically outlines how school helps shape up to be employees, factory workers, etcetera. But in today's world, that isn't helpful because as MJ's pointed out, the safe route (go to college) isn't safe anymore!!

 

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[EastWind]

You clearly didn't understand my point.

Besides actually, it is a fact. Regardless of what one's opinion may be, most businesses fail within 5 years, and by extension, most people.

I only deal with facts, opinions are meaningless.

And where did I project weakness? Just because you don't like objective data, doesn't mean it isn't true.

Most people on the forum and in this world are never going to amount to anything. Is that a reason to not bust your a** and work as hard as you possibly can and just give up? Of course not.

If anything, the fact that true capitalist success is reserved for a relatively 'elite' club is inspiring and drives me to work even harder. I have no desire to be average.

'People lie, numbers don't.' And in the real world, most people don't accomplish their dreams/goals no matter how large and out of control their egos might be.

You have made no point. NOR stated any fact. What you have stated is your opinion which is pretty much unsupported. Hence your post is meaningless.

 

[GetShitDone]

Besides actually, it is a fact. Regardless of what one's opinion may be, most businesses fail within 5 years, and by extension, most people.

70% of businesses are also sole-propietors. Another large percentage of small businesses don't really know how to market or innovate. The truth is that most business owners create a job for themselves (nothing wrong with that if you want that lifestyle.) and they don't have the knowledge or motivation to be different and grow. Cash flow is the biggest problem in the businesses that do fail. A lot of these businesses are driven by passion and by people who go into business blindly thinking that they will succeed just based on their passion alone.

Sure numbers don't lie but to what extent can you say that almost everyone on a forum where we are taught to be innovative and real world marketing knowledge will fail? Businesses fail because of lack of planning, knowledge, marketing, etc. I am yet to read MJ's book but from what I have read, it seems that the information in the book AND on this forum is a tad bit foreign to most self proclaimed "entrepreneurs".

The right knowledge is to be learned in the right places. All you have to do is search for it, learn it, and implement (execute) it depending on your own industry/company.

Your either a Wolf (FastLane Entrepreneur) or a Sheep (Mom N' Pop Small Business Owner Who Fails In 5 Years).

 

[AgonI]

I am about to open one more thread about whether we should go to college or not ... there isn't many on the forum so I think it's important. See you there! Oh also, should I learn to code too? Or just go to college? uke:

 

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[Lights]

College really doesn't teach much on how to be a leader. The education system is set up to pretty much inhibit our creativity, which is essential for resilience during tough times. Some classes could be useful like public speaking, acting and such, but for the most part college doesn't teach us how to be leaders, that's why so many people with Harvard educations end up working for CEOs who don't have degrees. In other words, they learned to become leaders without needing a degree.

Also, I find it shocking that many doctors know very little about nutrition which really shows how bad the education system is. I have a cousin who is a pharamicist and he's asking me question about nutrition (since I became a health nut)!

College isn't a waste for some people... if they take the right classes, and the classes are nearly free. But I don't think it's a back-up plan. I think it needs to fit the plan for it to work. For a lot of people, I think college will only help them. Not everyone is born to be an entrepreneur... if getting a nursing degree means they raise the standard of living than great for them.

I think it's really an individual thing.

For instance, I'm taking business classes this semester... first time doing it, and I think I understand business 5x more than I ever have before. Sure I could learn it from a book, but with the grading system on top of my head, I feel pressure to learn this stuff in a timely matter. The past two months, I been living and breathing business concepts... sole proprietorship, LCC, corporation, franchisee, and a bunch of other things.... I'm glad I am doing this, since I'm not a clueless dwit. I'm taking a web design class, and I now can tell I can create a decent website.... a simple site, but it will get the job done for some businesses.

I think college forces you to work harder against a clock. It's not what you learn in college, but the fact that you went to one makes you a "better" human being. But you got to want to do it, and have a reason for doing it. You just can't walk into college blindly taking classes without realizing why you are taking the classes that you are taking. You can learn to work against a clock at McDonald too.... you don't need college, but for some it helps.

Now, if you have no clue why you are there, and taking thousand dollars worth of debt. That's crazy.

I think there's an opportunity cost here. But if you keep debating about it... you are just wasting time. do it, don't do it. Life is too short to waste on debating something like this.

Bill Gates went to college, but he only quit when he had something going, so I take that approach on college.

 

[DeletedUser394]

70% of businesses are also sole-propietors. Another large percentage of small businesses don't really know how to market or innovate. The truth is that most business owners create a job for themselves (nothing wrong with that if you want that lifestyle.) and they don't have the knowledge or motivation to be different and grow. Cash flow is the biggest problem in the businesses that do fail. A lot of these businesses are driven by passion and by people who go into business blindly thinking that they will succeed just based on their passion alone.

Sure numbers don't lie but to what extent can you say that almost everyone on a forum where we are taught to be innovative and real world marketing knowledge will fail? Businesses fail because of lack of planning, knowledge, marketing, etc. I am yet to read MJ's book but from what I have read, it seems that the information in the book AND on this forum is a tad bit foreign to most self proclaimed "entrepreneurs".

The right knowledge is to be learned in the right places. All you have to do is search for it, learn it, and implement (execute) it depending on your own industry/company.

Your either a Wolf (FastLane Entrepreneur) or a Sheep (Mom N' Pop Small Business Owner Who Fails In 5 Years).

I agree with everything you say, however looking at the forum as a whole, the vast majority that join never start anything and never come back.

But if we look at the core group of people on here that come back repeatedly and actually take action than the success rate will likely be quite higher than the statistical norm.

 

[DeletedUser394]

You have made no point. NOR stated any fact. What you have stated is your opinion which is pretty much unsupported. Hence your post is meaningless.

Haha, okay buddy.

http://www.statisticbrain.com/startup-failure-by-industry/

http://smallbiztrends.com/2012/09/failure-rates-by-sector-the-real-numbers.html

http://smallbiztrends.com/2012/12/start-up-failure-rates-the-definitive-numbers.html

 

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[GetShitDone]

I agree with everything you say, however looking at the forum as a whole, the vast majority that join never start anything and never come back.

But if we look at the core group of people on here that come back repeatedly and actually take action than the success rate will likely be quite higher than the statistical norm.

Agreed. I think a lot of people on this forum are still stuck in the "society doesn't understand me" attitude of aiming to be a multi millionaire entrepreneur.

Sure, talking about wanting to be a success is a feel-good moment while it lasts but execution is what matters in the end. Either live it in your head or live it in reality.

 

[MJ DeMarco]

you should always have a back up plan. This is where college comes in.

LOL, yea, especially if that backup plan consists of mowing lawns, waiting tables, and pouring coffee.

 

[AndrewNC]

All College Taught Me Was How to Pay Off Loans

Let me challenge you here....There is plenty of stuff college has taught me (most of it outside of the classroom).

Focus in on what you DID learn, and you will grow from it.

 

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[MisterBHZ]

Either way, you should always have a back up plan. This is where college comes in.

Does the back up plan involve asking if you'd like fries with that?

 

[Steele Concept]

This discussion has been done to death. I believe experience is FAR more important than degrees, however some jobs require degrees. The best degrees for ROI tend to be professional degrees... MD, DO, PharmD, JD, MBA, BSC etc. (Read doctors, lawyers, engineers) That being said, good luck to the JD's and MBA's if you aren't coming out of a top tier school with reputation and/or connections.

If school was free it would make a lot more sense, in 2015 your average BA holder will be $30k in debt and for their parents undergrad runs ~$25k/year (If one is fortunate to have parents pay for college). The best part about my 3 degrees is that people perceive you as smart when you know big words and have a graduate education in something fancy sounding (Industrial/Organizational Psychology). I'm in sales and have 6 years of experience, that means way more to me than my 6 years of education.

However, I had a ton of fun in undergrad and now I have fully paid off all my loans. It is easier to stomach if you are making good money and the loans are behind you. But, they suck and way too many people are paying too much for college when a trade or entrepreneurship would be a better option. Gradually public perception regarding college may change due to the cost and supply/demand issue. In the mean time we need to be wise when considering our options.