Sabtu, 03 Januari 2009

How Much is a University Education Really Worth Now?






This question is often heard these days, even among some people who want to send their children after they have finished their 12 years education. As just a simple question, it might be right because people will be worried then with the budget they must provide, but..as the absolute question, there are many things will be considered to answer, cause sometimes we don’t have to answer such questions, let the people who care their future think and consider them as their own decision to view the progress of this world development, and if it is right, also for the life of their children or simply we say their own next generations. But let’s be reasonable….

Many people or folks who go to university end up making more money over their life time than those who do not and yet, we know that some of the rich people and top billionaires in the world skipped college/university or even dropped out. But, how can this be possible if college or university makes you smarter and teaches you how to earn a solid living? Well, college does teach you how to earn a living and the statistics do not lie; folks that go to college on average do make more money.

Not long ago, someone who studies education and even offers online classes in several subjects stated that; Education plus Life Experience is equal to a full on college or university degree. This is an interesting statement, and it assumes that one's education in industry or personal studies is worthy, it's not always, but if it were, this statement makes sense. Well, we should be more careful seeing this fact.

Some people say that; education with life experience similar with a college degree type education or tingkat kesarjanaan (Indonesian.red); We believe that they are giving far too much credit to a college education. We can see that experience and actual know-how far trump the brain washing of a college education. Just take a Look, Bill Gates is no idiot, neither is Michael Dell, Lim Sio liong or anyone else that left school after seeing it for what it is. Some say that the fact that people can drop out of college and become a billionaire is a testament to the freedoms and free enterprise we have in America or in some liberal countries, where opportunity abounds. If billionaires can become that wealthy after dropping out of college then what is a college or university education really worth now?

Well, if you like to see the statistics and the time value of money, it almost seems like a wash considering the high-price of colleges and universities. Those who borrow the money for student loans spend years trying to pay them off, while the compounded interest ticks away. Someone who goes to work, learns a trade and starts their own business often live next door to the professional laden in education debts. It is indeed something to think about.

What I say here actually is just a question, and I really want to go back through my own experiences in my own education. I still don’t know the benefit of my knowledge if it has to be compared to others’ condition of life these days. Actually as the human being we still don’t know what will happen then. But the word ‘don’t know’ here doesn’t mean that totally we have no knowledge for the coming life condition, of course we know the better life because we have undergone the life it self and without any much consciousness we have been running away from the poor condition of our life. The meaning then is we don’t know yet the real forms of the future but we still have to enrich the forms to be better and better. That’s what I mean about we don’t know, comparing to the unwilling to be educated people, we have left them far behind.

Well fellows, what do you think? Back to the title of this script….still worthy or not studying in a college o university?

The out terrace of the library of the University of Sumatera Utara, Medan, afternoon December 5, 2009

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