Why college is not a good investment anymore

Editor - CoolAvenues | July 12,2013 04:50 pm IST

Is MBA important to achieve great in career path? Do I need an MBA degree to become a successful analyst?..

These are some questions our users frequently ask us and the answer we give them is NO!

Earlier, people used to pursue college education to become educated and socially aware members of society. The only aim of education used to be gaining beneficial knowledge. However, with time changed the goal of education and colleges started becoming a centre to produce job ready professionals. Colleges realized this changing trend and soon they transformed from education imparting institution to moneymaking shops where professionals are produced.

Meanwhile, people also started recognizing the increase in net value associated with a college degree. And alike any privately held business, colleges throughout the country responded to rising demand with significantly highly priced courses. Thus, college became an investment.

Today, young graduates pay lakhs to colleges for just one reason, i.e. jobs. The placement history of colleges is an important parameter for these students to choose their college. Yet every year, too many students walk out of their college campus with expensive degrees, but no jobs.

Our economy is facing a tough time. In this scenario, the high unemployment rate becomes even more acute.

Here are the real reasons why college is a bad investment:
1. It’s debatable whether colleges even offer valuable information anymore
College curriculum these days are based on information required to prepare you for a career in that field. The information has little value outside the job context.

Graduate students, who are using the university or institute as a research grant, teach the vast majority courses in most of the colleges. These lecturers are usually uninterested in being an effective instructor. Thus, students probably end up reading bullet points from textbooks or PowerPoint written 10 years ago.

2. The educational value you do receive can easily be acquired elsewhere
The legitimate value of an institute lies in its professors. These professors are ought to have experience, information and ability to impart the knowledge earned over the years to you. However, the quality of professors Indian institutes have has been a topic of debate over these years.

And if professors aren’t providing the educational value, everything else can be earned anywhere in the world.

3. For 90 percent of careers, all required skills are learned on the job
Apart from a few handful careers, this logic applies to all—say you cannot become a doctor straightaway without gaining a formal course in it.

For most careers, however, job-related skills are learned through an entry-level position. You learn what you need to learn on the job, making your degree useless on a practical level.

Thus, if you are not vying to become a doctor, engineer or psychiatrist, gaining college education is hardly any worth.


 Editor @ CoolAvenues.com...