What do you think? Is going to college and getting a degree worth it anymore?
There’s a lot of talk lately about millennials living at home with their parents after graduating college. They are saying they aren’t making enough money to live on their own because the employers are not paying them enough. So, after college, they move back in with their parents. One report said 1/3 of all people ages 18-34 are living with their parents. See the story HERE.
That comes out to 24 MILLION people living in their mother’s basement.
Many of these millennials are college grads, but say they simply can’t afford to pay back student loans and pay rent on the entry level salaries they are getting paid.
Many people (especially older adults) say millennials are spoiled brats and need to just suck it up. They claim millennials think they are entitled to a high paying job just because they feel they deserve one.
That may be true in some cases, but there are other issues that needs to be addressed:
- What’s the use of a college degree if it leaves you with so much debt that you can’t afford to live on your own?
- Would people be better off learning a trade instead?
So far this year 60,000 retail jobs have been lost, with more layoffs coming. Automation is probably going to eliminate even more jobs. This means more people out of work, looking for jobs.
Once upon a time, going to college meant having a good job waiting for you when you graduated. Today, the only guarantee some people receive is a huge student loan. Having a graduate degree is no guarantee of finding a good job either?
So, if you’re not going to medical school is it worth it? What do you think?
It’s because of conversations like this that I’m a proponent of learning a skill and starting your own business. Starting a business doesn’t require a college degree. And on the flipside, starting a business is that much harder if you have $100,000 in student loans.
However, if a person wants to go to college, by all means. But at the same time, it’s critical they learn skills they can use and can be applied to the real world.
In order to survive in this new age, we must have a skill. Job security is a thing of the past. Having a skill that can generate income may be the best option for all of us going forward, whether we have a degree or not.
Is owning your own business the wave of the future?