Contrary to popular opinion, you can be successful without having a college degree. When you count the cost of a college education, you may realize that your success may or may not depend on it.
David Green (the founder of Hobby Lobby, who is worth over $4 billion).
R. Donahue Peebles (a black man, who founded Peebles department stores).
When you see the names of these entrepreneurs, you probably think of two things: success and wealth. You probably never even knew that ALL of them do NOT have a college degree.
Many of them are college dropouts. You might say,
“Oh that was back then, you can’t do that today.”
I beg to differ.
In fact, I never forced my own children to go to college.
Success and wealth don’t come from having a degree. They come from knowing what you’re good at, having the work ethic to get it done, and from getting educated.
Now education and degree don’t always go hand in hand. You can
educate yourself in your field by reading everyday, learning something new, getting a mentor, and committing yourself to the process.
Today it is easier to become self-taught that it ever was. You can type something in Google, or hop on Youtube and learn about anything that you can think of. But we all know that a good ol’ book never gets old.
Of course, I’m not saying that it’s bad to go to college to earn a degree. You may be the first one in your family to graduate with a degree and that’s something to be very proud of.
But with the price of higher education getting steeper and
steeper you have to weigh the cost. Are you going to college or encouraging your kids to go to college because it seems to be the right thing to do?
As blacks we were denied an education for so long, so do you feel obligated to go and get every degree possible to refute that?
Or do you think that you won’t stand a chance in life without a degree?
What I’m saying is this: college isn’t a bad thing. But we have to look at it as a major financial decision.
Have you weighed all the odds, looked at pros and cons about making such an investment into formal education?
If you have a child thinking about college, do you and your child know
why they are going?
Are they certain about what they want to do?
If your child isn’t ready or not interested, then don’t waste your money, or even worse — cause them to get ten of thousands of dollars in debt before they even hit adulthood.
You wouldn’t dare pay $30,000 or more for something that you
weren’t sure you really wanted to use, needed or were going to change your mind about.
The fact is that you don’t always need a degree to be successful. Now of course, if you want to be a doctor, carry yourself to college. There is no way around that.
But before you make a major financial decision, weigh it out with your financial coach, and if it makes sense for you to go then that’s alright.
But if it doesn’t weigh out, know that a degree isn’t a prerequisite for success. Degree or not, YOU determine your level of success, and there are plenty of people that have already proven that to us.