As a former dropout, dropping out was one of the biggest decisions I have ever made. But as I make daily decisions towards my future success, I know that the future holds endless opportunities as long as I make priorities the most important aspect of my life. Before I start, let me start by saying that if you’re someone that loves the comfort of having a job and doesn’t think you can handle the pressures of taking the harder way, do NOT go this route! There is nothing wrong with going to college but if you want to become financially free this might not be the route you should go.
I know what you’re thinking “what are you talking about dropping out? Why would I drop out?”.
Yes, I know it seems crazy but hear me out.
Coming from someone who was raised since birth to go to college, I know it seems crazy to even think about dropping out. All it took was for me to start reading a couple of finance books to realize that I needed to make a change ASAP if I wanted to become financially free. Whether you are a current student at your local university/community college or someone thinking of going to college in the future, here are some reasons why you should reconsider enrolling in a university.
1.Cost of College.
Although there are ways to reduce the cost (FAFSA, scholarships, etc.), the cost of attending a university in the U.S has been steadily increasing over the years. According to Value Penguin , the average cost of instate tuition is $25,290, compared to $40,940 for out of state which includes all of the expenses. If you’re someone who isn’t fortunate enough to afford those bills, that person is left with the option of taking more loans to cover their expenses. Situations like these put an individual in a tough position financially. Because of the ongoing monthly payments for loans along with regular expenses, this forces someone to have to work a 9-5 job to barely pay their bills. But If you had the opportunity to use that money to invest in income-producing assets or some sort of business, overtime your wealth will grow indefinitely.
2. Education is a system designed to have people work corporate jobs.
A system is classified as a set of components working together as part of an interconnecting network. In my opinion, education is a system designed to have people work a job their whole life, so the rich get richer, and the poor stay poor. One reason that supports my claim goes to the creator of the education board. That someone is John D. Rockefeller. For those of you who don’t know John D Rockefeller (known as the “monopoly man”), Rockefeller is known for being the richest man ever, and for all the control he had back then during the industrial revolution. As a businessman, Rockefeller is known for taking control of the oil industry and buying all the other businesses (which is why he is referred to as the board game). With all the money and power, this led Rockefeller to create the education system. Because of the huge influence he had, this forces people to learn certain curriculums and think certain ways. This is important because it creates a loophole for people to work corporate jobs for the rest of their lives due to the way we are taught. Don’t believe me? OK. Why do you think you aren’t taught certain things like finance or aren’t taught how to critically think? Because then you would become a more knowledgeable person and get a deeper understanding of what the education system’s purpose truly is. And even though certain majors like liberal arts teaches you how to critically think, Universities only teach how to work for corporations, not on your own.
3. Job security.
Most people who decide to go to college are planning to get a job after college for security. The thing is even a job isn’t stable, and the pandemic is a perfect example of that. Many U.S. citizens have been forced not to work due to COVID-19 restrictions. People who depend on their jobs for income are put in a tough spot to survive. But if you’re someone who has multiple streams of income, a situation like this wouldn’t hurt you as much. Multiple streams of income or financial literacy are not taught in school, so how would you learn it? Another reason why having a job could be hurtful to your financial freedom regards to taxes for a job, compared to the tax benefits of owning an LLC.
Like I said earlier, there is nothing wrong with college. College can be a place to network, and a foundation for someone’s success. Also depending on whatever career, you decide to pursue, college might be the right route for you. But in my opinion, if you want to become financially free, you should reconsider whether college is right for you and if it will align with your goals.