Preparing for a career through advanced formal education can be a valuable investment. However, be wary of the false perceptions of the real world, money management, debt, and income expectations many colleges would have you believe.

Marty Nemko, an education consultant, career counselor, and author stated, “The bachelor’s degree is America’s most overrated product.”

The Value of a Degree Lie

Prominent public figures, including politicians as well as colleges themselves, like to throw around a misleading figure: Those with a bachelor’s degree will earn on average $1 million dollars more over a lifetime.

As John Stossel reported, this statistic is inaccurate as billionaires that happen to have a bachelor’s degree are included. This throws the average off when the reality is if just the typical graduate with a bachelor’s degree was considered for the statistics, the worth of their education would be drastically less than $1 million dollars.

The Job Lie

Colleges will tell you that earning a bachelor’s degree will get you a high paying job. This isn’t a guarantee, in fact in many cases it isn’t even likely. But that doesn’t stop colleges from using these empty promises to entice students to shell out big bucks for a formal education.

You may not realize that technical training (vocational school), an apprenticeship, or getting a post high school entry level job and working your way up can prove to be just as (sometimes more so) beneficial. For example: An electrician or a paralegal earn above the national average yet neither require a bachelor’s degree.

With bachelor’s degrees becoming commonplace you must remember that while a couple of generations back such a degree was a ticket to a high paying job, these days it’s merely resume fodder. Experience in the job field is generally worth more than a degree. Experience combined with a degree is highly sought after, but many jobs will hire based on experience alone. Have you ever noticed on a job post, “Bachelor’s Degree or Equivalent Experience” and you weren’t sure what they meant? It means that if you’ve been working in this job field for years even without a degree, then they know you are cut out for the job even more so than a recent college graduate.

The Debt Lie

When taking out loans, students are usually told that it’s well worth the debt because they are going to get their degree, which will lead to a great paying job so they’ll be able to pay off their debt easily. This generally isn’t true, especially if you get a degree in something that isn’t marketable. For example: A philosophy degree will definitely not lead to a huge pay check. And there are numerous other degrees that have few job prospects. Yet, the debt of the student loans will still be owed regardless of whether someone lands a job within their field or has to live with their parents while working at Starbucks to pay off the bill. Remember, you can’t claim bankruptcy on student loans.

The Snob Lie

Universities love to influence their students into believing that they are better than everyone that didn’t go to college. You add that to the other lies where students believe they will be magically granted a high paying prestigious job (regardless of their field of study) and will receive added respect thanks to their degree, you then have a bunch of people that are in for a harsh dose of reality after graduation. It’s sad really. College should prepare you to be effective in the work place, not set you up for disappointment.

Many college graduates are unable to find work within their field. Most will end up taking a job that has nothing to do with what they studied. Many of those positions will merely require a high school diploma and sometimes being over-qualified for a job will actually cause you to be overlooked for it because employers have more trouble getting someone to work hard when they think they are too good for the job.

The Honest Truth About College

The practice of obtaining a degree through a university was first set up to train students within specialized fields of work, such as medicine or law. Earning a degree was part of the process of obtaining a specific job. But now this process has been skewed by the big business of college. They offer plenty of useless degree programs and claim that college is about “broadening your mind.” Even with that said, they still lie to students suggesting that this will lead to a high paying career. It’s just not true. The reality is they are out to get your money. If you can afford to take classes that don’t lead to a job, then sure go ahead and broaden your mind. However, most people expect college to be an investment into their career. Don’t expect that in all majors; find out the facts before you enroll.

It’s Up to You to Make Your College Education Count

If you have a degree or are earning one, it is completely up to you to make it worth something. Do not depend on the school to give you good career advice. Do your own research. Choose carefully your major and your classes. Explore the job market and make sure what you are studying will actually lead to a job. For more information on how to do that see: Back to School for Your Career? Choose Carefully. Also, don’t rule out alternative and more affordable paths that lead to a profitable career.

(Original photo by Jason Michaels, used under Creative Commons license.)