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GOLD! GO TO COLLEGE... A little Rant.

Discussion in 'Lessons from Success/Failure' started by JackEdwards, Aug 21, 2012.

  1. socaldude
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    socaldude Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Does anyone else find it ironic that the professor in the video speaking out against Peter Thiel has a book promotion at the end of the video?:rofl:

    Yup, you should assume you are not capable of success and go thousands into debt to learn old business material from the 80s:rofl:.

    I posted in this thread a few years ago, and back then my opinion was a tiny tad "pro-college" because I was still in it.

    But as I have matured, I have realized my ROI on my college degree is literally negative. Yup, I have made absolutely zero dollars that I can accurately correlate to my business degree. I wish I would have held on to the $30k I used to pay for tuition. Talk about a case of buyers remorse, I want a refund. Worst purchasing decision i've made in my life as far as I can tell.

    A college degree is just a worthless piece of paper that oozes of entitlement and false hopes.

    Going six figures into debt cause your parents are scared to death that your gonna be homeless and without a college degree when you grow up is ridiculous.
     
    SMH, Contrarian, MJ DeMarco and 3 others like this.
  2. JNB2
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    JNB2 Life is a voyage. Enjoy the trip. Read Millionaire Fastlane FASTLANE INSIDER

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    I have 3 college degrees and had a great time acquiring them, but the process of getting them is extraordinarily wasteful. And my degrees are in applied science fields that led directly to jobs. Most degrees are not, and most students don't go to school with a specific goal in mind. Mostly, I'd not recommend college except in certain field like medicine (although I don't recommend that), law, or the hard sciences.
     
  3. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Someone should use the old "compound interest" memetic against the pro-college shills...

    Put the money you saved by NOT going to college in an index fund for 50 years, and at the end of the term, not going to college would be worth millions.
     
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  4. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    i wish someone like you would have mentioned this when I was 17, as I was far too stupid to see the trap.
     
  5. Contrarian
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    Contrarian Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Even though I didn't discover entrepreneurship until much later, I always thought university was a scam.

    When I was at college (in the UK, compulsory education finishes at 16, and you can go to college from 16-18 if you want to - and it's free), noone would shut up about how I "have to go to uni". Teachers, other students, everyone. "You'll be wasting your potential!", "You're making a terrible mistake", they would say.

    And my favourite - "You have a gift for English, you have to study English literature!"

    What, so I can become an English teacher? Woo-hoo, sign me up.

    I was one of those students that barely did any homework, did my coursework the night before it was due, and barely revised, but still aced all the exams.

    Academia bored me to tears. I had no idea what I wanted to do with my life, but I knew I wanted to DO something. Not spend another three years in pointless classrooms.

    In one of my first (and worst) jobs, working in a dodgy boiler room call centre flogging home security systems, one of my colleagues was a 27 year old psychology graduate. I felt very good about my decision right then.

    And I've never, ever regretted not having a degree.
     
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  6. Daniel A
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    Daniel A DIESEL Read Millionaire Fastlane Speedway Pass

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    SERIOUS

    I'm a student, and I'm considering adding a minor or concentration.

    A minor in Psychology.

    Or...

    A concentration in Management Information Systems (MIS).

    What do you believe would be more useful and why?

    Thank you.
     
  7. ChrisJHarrington
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    ChrisJHarrington Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Useful for what?
     
  8. DAL
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    DAL New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hi

    I'm also from UK and can completely agree with this, I was in the same boat! At college my tutors were trying to sell me the 'you have to go to uni' tale. Thing is I didn't have a clue what I wanted to do so how on earth was I supposed to choose a the type of degree to do! In the end I didn't even apply to go to uni and decided to 'wing it' so to speak. I actually ended up in a science role after college as a technician and was paid to go to uni part time which was great as no debt!

    However I still think kids in school and college need to be told that there are other options out there such as entrepreneurship. I was never told anything about this at school or by anyone for that matter and I know that if someone had sat me down at 16 and explained 'look there's another way' I would have followed a different path much earlier on in life!

    DAL
     
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  9. Daniel A
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    Last semester (Fall 2017) I had a change of plans.

    After I graduate, I want to begin the process of commissioning as a military intelligence officer in the US Armed Forces. Four years active duty. If you look at some of my previous posts, I indicated my interest in military intelligence. I believe it's the best fit for me in the military.

    I recently learned about another role. Psychological Operations or Military Information Support Operations. A marketing and psychology background seems to be ideal for that role.

    I could list out all the benefits this would provide me in general and as an aspiring entrepreneur, but I want to keep this brief.

    So yes after my planned service I do plan to pursue entrepreneurship. From what I expect to be a significantly better position and perspective.

    Also, I'm now considering either a minor in Psychology or Computer Science.

    Any input in this thread or via private messages would be much appreciated.

    P.S. To commission as an officer in the US Armed Forces a minimum of an undergraduate degree is one of the requirements.
     
    Last edited: Apr 15, 2018
  10. jick5555
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    jick5555 Contributor

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    Just turned 18, from the UK.

    19 days before the start of my 4-year long University Degree in Software Engineering, one of the four years will be working within the industry. I realise the Fastlanes HUGE potential, I intend to retain and enhance this mindset throughout my studies, although a university degree leads to the Slowlane I feel it's very important to have something to fall back on.

    I am almost certain that I will continue to pursue the Fastlane throughout my life, however, I would much rather run these Fastlane thoughts and take action on these ventures concurrent to a decent career that my degree would have helped me obtain as opposed to working in McDonald's, Primark or CEX on minimum wage with that same hope of making it in the Fastlane.

    Total Loan Repayment: £45,750

    A large sum of money, yes, but this figure above is absolutely dwarfed by the amount that can be earned through adopting the Fastlane mindset.
     
  11. jazb
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    jazb Silver Contributor Read Millionaire Fastlane Speedway Pass

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    Going to college/Uni is different in the UK because we pay less and the loan terms are extremely favorable.

    First term of university was one of the greatest times of my life. Don't worry about fastlane too much and enjoy yourself.
     
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  12. jick5555
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    jick5555 Contributor

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    Yeah glad to hear that man, I'll still try my best to make the most out of the experience, hoping to meet all kinds of people there and I could even work abroad during the degree instead of just back in London.
     
  13. JordanK
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    JordanK Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I’m going into my third year of Software Development in Ireland. My fees are 3k euro yearly which I pay without a loan and first year of college I stayed with an aunt who lived in the city to save money. Second year I lived in a house with a few friends but it cost me nearly €500 monthly. However, college is great fun and while I’m learning and partying I’m also running my copywriting business which pays all my bills. This third year I made my own luck by going to property auctions here in the city and I met a dude who has become my Real Estate mentor (A lot of the RE knowledge on this forum was useless to me as its US/UK based). He has 25+ units around the place and I have been working & learning from him over the summer. He gave me a place he just acquired smack bang in the middle of the city center for the next two years rent free as he can’t put an official tenant into it until some court cases proceed on the place. Together with his team I have been helping renovate the place and I move in next week. I can AirBnB it for the summer etc while I travel. It just goes to show all costs can be cut down. I’m putting money away for the coming property crash (2-5 years time) and I’m going to be ready to start purchasing my own units when I finish my degree and start on 60-80k euro or 80k$ if I move to the states. I have already been learning about the credit system from my mentor and am putting the processes in place now to get funding in the future.

    The moral of the story is ENJOY college and party like theres no tomorrow but dont forget to be getting things going for yourself in the background.
     
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  14. Satvik Gupta
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    Satvik Gupta Contributor Read Millionaire Fastlane Speedway Pass

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    I'm 17 (going to turn 18 very soon) and I decided to...

    Drum roll, please.

    Take a gap year.

    Why I did that? First, I don't like the idea of seeing things as black or white. In this case, go to college or never go.

    Second, I wanted to see what I can accomplish in a time period of 1 year. That being said, a gap year seemed like a great option for me!
     

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