A college degree is frequently promoted as a great avenue for upward mobility. avenue. What this means is that an individual has greater earning potential with a college degree than without one. This argument instills in people that money is the most important thing to value. The key reason to get a college degree becomes income potential.

There are many arguments beyond income potential for someone to pursue a college education. Discussing the validity of those reasons are topics for another day. Seeking a college degree based on income potential is the one that is troubling me.

Currently there is over 1 trillion dollars in student loan debt in this country. A college graduate may have a higher income, but the take home pay is immediately decreased by his or her student loan payment. In addition, college grads tend to have double the amount of overall debt than those without a college degree thanks to new car payments, credit card debt and mortgages.   So, while college grads may earn more money, their net worth is less. See more here:

Universities have moved away from talking about the four-year degree. Why? Well, it is because the 4-year graduation rates nationally are sad.  Universities focus in on 6-year graduation rates.  Community college 2-year graduation rates are worse. The colleges now talk in terms of credits needed. They spend thousands of dollars on retention solutions and create committees upon committees to address the issues. Is it working? I’m not talking about moving the needle one or two percent. I mean really working. This added time is not free. This adds to overall student debt and delays their start into a career. I remember a time when it was a joke that people spend that long in college. Now it is the norm.

Maybe it is time to ask the tough question. Should some of these students be in college? Maybe they would be better served to learn a trade, do an apprenticeship, and become a skilled trades person.   They would be able to avoid taking on student loan debt and start their careers. If it is about money, the median salary for a plumber is $50,000. Electricians make even more.

Mike Rowe (Dirty Jobs/Somebody’s Gotta Do It guy) has been on this bandwagon for quite some time.   He has the Mike Rowe WORKS Foundation. I am jumping in with him. I’m not saying don’t go to college. You can also learn trades at colleges.  What I am saying is that there are fantastic alternatives to college where people forge their path to success.