1) College is a business with no guarantee.
(C) 2009, 2014 Roy Philipose. All rights reserved. Standard Disclaimer Applies.
Fox News - "The College Scam"
ABC 20/20 - "College is a Rip Off"
Student Loan Justice - Site
"Accepted" College Movie
My "College Truth I" - Video
I went to college for many years because I thought I had to. In the end, I came out no better than before. I would like to thank the many who told me to go and stay.
Roy Philipose, Entrepreneur
Author, The Future Capitalist
I helped these schools (CCP, Temple, Drexel, LaSalle) become very successful. When I needed help, they didn't care at all.
Update (Nov 2014)
I wanted to include some facts and figures. This will help you understand why I put up this page and made the college truth videos.
Years attempted college (undergrad 93-05) 12y FT
Total credits earned (college credits) 120 cr
Total student debt outstanding (federal) $61K
Total tuition spent (formal education) $120K
Total gross earnings (past 20 years) $120K
Return of investment (job earnings) 0
As you can see, the above numbers don't look very good. I also left out the defaulted private student debt (which made my credit bad for many years). That is the danger of pushing people to go to school when they don't want to go in the first place. And of course, the PPP (Parents, Professionals (advisers), and Politicians) doesn't want to be held accountable. If members of the PPP wants kids to go and stay in college so badly, than they should pay for most of it...not part of it.
So far, college was the dumbest investment I have ever made. I would have done better, if I kept my fast food and retail job I had 20 years ago. At minimum I would have grossed $500K, over the next 20 years, instead of only $120K. I have grossed more from the stock market than the college market. You don't need to stay in college if you want to be an artist, investor, or entrepreneur.
My college adviser, Diana Estrada of Temple University, should be proud. Back in 1997/98, she told me a few times not to 'drop out'. I recently called her up and she repeated the same thing. She has done well for herself (Plan B). I haven't. She should be proud. But that's the game. And you are playing one.
Years of college has made me poorer, not richer. That is why I complain so much about it. For you students though, college might turn out to be a good investment. College does have a purpose. But that is the gamble that you are going to take. Hopefully, you play it smart.
Note: I plan to release an extended "College Truth 2" FAQ (advice) in a separate blog posting. The FAQ will help with questions like: How should I pay for school? Should I go to college? Should I stay in college? What should I major in? Etc....