Was this coursework at Trump U?
Ok, let’s break down what a college education is and if there might be cheaper and more effective substitutes.
The potential benefits of going to college and obtaining a degree:
1. Employer credibility.
2. Critical reasoning skills.
3. Research skills.
4. Problem solving skills.
5. Contact with previous and future industry leaders for networking opportunities.
6. Academic depth and breadth of knowledge.
7. Ability to get instant answers to questions by a knowledgeable instructor.
The potential costs of obtaining a degree.
1. Tuition cost, potentially running into six figures.
2. Opportunity cost due to very limited earning power while attending college full time.
3. Time efficiency. The content for a four year degree could be completed in half the time.
4. Information obsolescence. Some college courses that need updating have not been updated.
5. Over reliance on theory and under valuation of practical experience.
There are a tremendous number of paradigm shifting entrepreneurs who did not graduate college before becoming successful. Ironically, many of these entrepreneurs were granted degrees later in life without the attendance requirements of the degree granting college.
In order to obtain the benefits without some of the downsides to going to college, one has to develop a plan, study, meet people, and engage in competitive activities to develop the skills necessary to win.
One can measure winning in different ways, but the key is being engaged in an area of interest that has an uncertain outcome. This is how one develops the practical skills necessary for success.
In more general terms, the most successful organism is best able to make use of the resources in their environment over their competition.
Trump, the multi billionaire US President who has several high performing children has far outperformed most PHDs.
If you are feeling like you can’t resist an urge to debate the points above, well I wish you good luck.