Don't Send Your Kids to College

Let's summarize quickly what's wrong with college:

1. First and foremost, it's too expensive. To send a kid to college you basically need up to $200,000. (I know these numbers are debatable, but bear with me and consider all expenses and a top-tier school.) That's insane. There's no way the incremental advantage your children get from having a diploma will ever pay that amount back. Perhaps for the first time ever the opportunity cost ("opportunity cost" being a phrase I remember from Economics 101) of college does not equal the extra profits generated by the degree.

2. I don't believe in a balanced education. Most colleges require kids to take a smattering of art, math, sciences, etc. Taking 10 different courses a year on wildly different topics, with enormous homework responsibilities in each one, not to mention droning, boring professors for at least eight of the 10, is the surest formula for creating complete non-interest and inability to remember anything in any of the topics covered. What a waste of $200,000.

3. There are far better uses of time.

What could you be doing instead of college?

a. Working -- not just a labor or service job, but there are many Internet-content jobs out there that are available to high school or college-age kids. I have high school and college kids working for me right now who are making over $50,000 a year from writing gigs on the Internet. Kids can scour Craigslist for opportunities, beloved blogs or Web sites related to their favorite interests. Companies are dying for good content. Create your own blog, get noticed, build relationships with other content companies and communities, and so on.