Numerous studies show that in the long run, a college degree guarantees a higher income. Why, then, are so many students dropping out of college?
Lately, I’ve talked to some bright young people who dropped out because they can make so much money in one of the many jobs available today that don’t require a college degree. They are leery of spending four years of their young lives, only to face decades of paying off student loans before buying a house, getting married, or starting a family.
Fifty years ago, college degrees were extremely important if you wanted to enjoy a comfortable life style. Many of us got through school on a shoe string, paying tuition as we went long, maybe dropping out for a year to save some money. Also, you could get some credits taking night classes and working during the day. Student loans were unheard of. Maybe you didn’t land your dream job the minute you graduated, but at least you were debt free. That sounds like a fantasy to today’s college graduates, many of whom will be paying off student loans for years to come. Okay, back to the college drop outs. Are they destined for a life of poverty? According to the Bureau of Labor statistics, there are plenty of jobs paying $60,000 to $90,000 a year that don’t require a college degree. If you don’t care about living in San Francisco or New York City. that kind of income will buy you a modern house, a new car, and a good life here in flyover country. That’s enough for a lot of intelligent young men and women, who don’t want a high pressure job that requires long hours and the constant stress of “keeping up with the Jones.” Rather than luxury cruises, they’re content to vacation on lake shores, or in state and national parks with their kids.
The simple life can be a very sweet, indeed.
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