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After 2 years of college, 45% of kids learn NOTHING!

Posted by on Feb. 9, 2011 at 5:10 PM
  • 7 Replies

 

James Altucher's 8 Alternatives to College

Posted Feb 08, 2011 08:00am EST by Aaron Task
It's been nearly a year since Formula Capital's James Altucher discussed his theory on why sending your kids to college is a bad idea. The segment proved to be one of Tech Ticker's most popular...and controversial of 2010. (See: Rethinking College as Student-Loan Burdens Rise)

More recently, a report based on the book Academically Adrift: Limited Learning on College Campuses found that after two years of college, 45% of students learned little to nothing. After four years, 36% of students learned almost nothing. (See: Brain Drain: Most College Students Learn Next to Nothing, New Study Says.)

Meanwhile, the cost of college keeps rising -- 20 times the rate of inflation and much faster than say healthcare costs -- and student loan debt keeps growing. As of mid-2010, U.S. student loan debt totaled $850 billion vs. $828 billion for credit card debt, according to the Federal Reserve.

So with more people coming around to the idea that maybe Altucher is onto something (vs. being on something), the money manager and author is back with a follow-up: The 8 Alternatives to College:

  • -- Start a business.
  • -- Work for a charity.
  • -- Travel the world.
  • -- Create art.
  • -- Master a sport.
  • -- Master a game.
  • -- Write a book.
  • -- Make people laugh.

"Whenever I suggest 'don't send your kids to college' a lot of very smart people invariably come back with the response, ‘well what else should they do?'," Altucher writes on his blog. "So I figure I will help people out by coming up with a list and try to handle the criticisms that will certainly arise even before they arise. I can do this because I have a college degree. So I've learned how to think and engage in repartee with other intelligent people."

In the accompanying video, Altucher "repartees" with Henry and me about his alternatives to college and addresses the most powerful thing working on behalf of higher education: The huge gap in employment between those with and without college degrees.

 

For a video interview, here's the link:  http://finance.yahoo.com/tech-ticker/james-altucher%27s-8-alternatives-to-college-535903.html?tickers=COCO,APOL,ESI,DV,EDMC,STRA,%5eDJI

 

What do you think about this guy's ideas?  Would you enourage your children to not  go to college?  What about the statistic that after 2 years 45% of kids learn nothing?  (I spent $78,000 on two years of college, that's alot of money for nothing, and I'm sure it will be more when my ds is ready to go.)

               


♥"Sure, girls from New York they're tough, and girls from Georgia they're sweet, but those born and bred Kentucky girls, they are the ones you have to look out for. We have sugar and fire in our blood. We can ride a horse, be a debutant, throw a left hook, and tell you the entire UK line-up ALL while making sweet tea. And if we have an opinion, you get to know it. We're both the pride and the downfall of the Bluegrass." ♥

by on Feb. 9, 2011 at 5:10 PM
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Replies (1-7):
ZanderandBella
by on Feb. 9, 2011 at 5:11 PM

I have to agree. I am a big person on learning on the job.

.k.e.l.l.i.e.
by on Feb. 9, 2011 at 5:13 PM
My first real job was as a bankruptcy paralegal. It was 100% on the job training (I'd moved up from file clerk). When I did go for my paralegal degree I took bankruptcy law for the A. I actually knew the professor, and she had me fill in a couple times she was sick!
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.k.e.l.l.i.e.
by on Feb. 9, 2011 at 5:14 PM
I do still think college is important but it's not the only way to success.

Quoting .k.e.l.l.i.e.:

My first real job was as a bankruptcy paralegal. It was 100% on the job training (I'd moved up from file clerk). When I did go for my paralegal degree I took bankruptcy law for the A. I actually knew the professor, and she had me fill in a couple times she was sick!
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MommyChristina1
by on Feb. 9, 2011 at 5:24 PM

 I agree very much with this!

Quoting .k.e.l.l.i.e.:

I do still think college is important but it's not the only way to success.

Quoting .k.e.l.l.i.e.:

My first real job was as a bankruptcy paralegal. It was 100% on the job training (I'd moved up from file clerk). When I did go for my paralegal degree I took bankruptcy law for the A. I actually knew the professor, and she had me fill in a couple times she was sick!

 

               


♥"Sure, girls from New York they're tough, and girls from Georgia they're sweet, but those born and bred Kentucky girls, they are the ones you have to look out for. We have sugar and fire in our blood. We can ride a horse, be a debutant, throw a left hook, and tell you the entire UK line-up ALL while making sweet tea. And if we have an opinion, you get to know it. We're both the pride and the downfall of the Bluegrass." ♥

MommyChristina1
by on Feb. 9, 2011 at 5:37 PM

BUMP!

MBAwife2010
by on Feb. 9, 2011 at 5:39 PM

I don't think it's the only way to success but it can make it a hell of a lot easier to pursue GOOD paying jobs (100k+/ yr). 

Bits08
by on Feb. 9, 2011 at 5:39 PM


Quoting .k.e.l.l.i.e.:

I do still think college is important but it's not the only way to success.

Quoting .k.e.l.l.i.e.:

My first real job was as a bankruptcy paralegal. It was 100% on the job training (I'd moved up from file clerk). When I did go for my paralegal degree I took bankruptcy law for the A. I actually knew the professor, and she had me fill in a couple times she was sick!

Exactly!

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