Introduction

The author questions the value of a 4-year college degree, asking, “Why am I going to college?” For many, the promise of high-paying jobs or social status drives the decision, often fueled by social pressure or guidance counselors. However, the author argues that the high costs, limited job prospects—exacerbated by the displacement of American workers by cheaper foreign labor—and the risk of debt make a 4-year degree a poor choice for most people, especially those with inadequate preparation from high school. Instead, alternatives like community college can offer better outcomes at a fraction of the cost, particularly in an uncertain economy.

Personal Experience

The author shares his own journey with higher education. Initially attending a 4-year college through the student loan program with the goal of securing a better job, he found the costs too high and job opportunities too scarce. After paying off his loans, he switched to community college, earning several degrees at a fraction of the cost. While the two years at the 4-year institution did not directly lead to a job, they broadened his horizons, suggesting some non-economic value to the experience.

Cost of a 4-Year Degree

The financial burden of a 4-year degree is significant. According to Forbes (2022), the federal student loan portfolio totals $1.6 trillion, owed by 43 million borrowers. Updated 2024 data from the U.S. Department of Education shows this has risen to $1.62 trillion, affecting 43.2 million borrowers. Alarmingly, Forbes (May 18, 2022) reported that 40% of these borrowers do not have a college degree, a trend confirmed by the National Student Clearinghouse (2024) at ~39%. The author argues that many of these individuals should never have attended a 4-year institution, as they are left with debt but no degree to show for it.

Tuition costs add to the burden. U.S. News data for 2023-2024 shows the average cost of tuition and fees at a ranked public college in-state is $11,260, about 73% less than the $41,540 at a private college. For out-of-state students at public colleges, the cost is $24,030. These figures do not include additional expenses like room, board, books, supplies, equipment, and transportation, which can substantially increase the total cost. Moreover, many students enter college with non-proficient high school diplomas, requiring costly remedial classes. The National Center for Education Statistics (2023) reports that ~30% of first-year college students need remedial courses, costing an average of $1,500 per student annually, further delaying graduation and increasing debt. The author notes that interest on loans and the opportunity cost of being out of the labor force for four years (at $20,000–$30,000 annually) could double or triple the effective cost, easily exceeding $100,000.

Job Market Realities

The job market poses significant challenges for 4-year degree holders, particularly those with inadequate high school preparation. The author highlights the displacement of American workers by foreign labor, noting that 17% of American workers—nearly 1 in 5—have been replaced by foreign-born workers (BLS 2023: 18.5% of the U.S. workforce is foreign-born). High-tech workers are particularly affected, with companies importing H1B engineers at lower wages. While the author cites H1B engineers earning $30,000 annually, USCIS 2023 data shows median H1B tech salaries at ~$100,000, though some roles can be as low as $60,000, still undercutting American graduates who often need over $100,000 to manage debt and living costs.

Liberal arts degrees often lead to poor job outcomes, compounded by non-proficient high school diplomas that leave students unprepared. The author references Dr. Walter E. Williams, citing Richard Vedder (2012), who found 115,000 janitors, 16,000 parking lot attendants, 83,000 bartenders, and 35,000 taxi drivers with bachelor’s degrees—jobs historically requiring only a high school diploma. The author views this as education fraud, consistent with his prior stance (e.g., Texas’s 90% graduation rate despite 58% reading failure rate), as these diplomas fail to prepare students for college or the job market. Updated 2023 data from the Burning Glass Institute shows ~30% of bartenders hold a bachelor’s degree, down from the author’s cited two-thirds, but still reflecting significant underemployment.

Government jobs, once a reliable option for college graduates, are shrinking due to budget constraints. The author references a chart from *The New York Times* (not provided) to illustrate these trends, urging readers to examine it closely. [Note: If available, the chart should be inserted here to support the argument.]

The author advises realism in assessing skills and job market demands, linking to a prior article: Intelligence Predicts Economic Social Outcome.

Economic Risks and ROI

Economic uncertainty adds to the risks of a 4-year degree. In 2022, fears of a prolonged downturn were widespread, with inflation and recession concerns dominating the news. While the U.S. economy has since shown resilience (e.g., 2.8% GDP growth in Q3 2024), the author warns that graduates buried in debt and working marginal jobs remain vulnerable, especially if they required remedial classes due to non-proficient diplomas. A liberal arts degree, often seen as valuable for non-economic reasons, becomes a financial burden if debt exceeds $50,000, as the author notes: “Liberal arts degrees are only ‘worthless’ if the only thing you care about is money—but if one is $50,000 or more in debt, they better worry.”

The return on investment (ROI) for a 4-year degree varies widely. According to whattobecome.com (August 21, 2022), bachelor’s degree holders see a -41.1% ROI in the first 10 years, 38.8% after 20 years, and 287.7% over a lifetime. A 2024 Georgetown University study reports similar trends: -35% ROI in the first 10 years, 45% after 20 years, depending on the major. The author emphasizes that these figures assume full-time employment, which is not guaranteed, especially for liberal arts graduates. Claims of earning $1 million more over a lifetime with a 4-year degree are uncertain and depend heavily on the field of study.

Conclusion

The author concludes that a 4-year college degree is not the right path for most people, given the high costs, uncertain job prospects, and risks of displacement by foreign labor. With student debt at $1.62 trillion and ~39% of borrowers lacking a degree, the financial burden is clear, especially for those needing remedial classes due to non-proficient high school diplomas. Liberal arts degrees often lead to underemployment—viewed by the author as education fraud—while fields like math, science, and engineering offer better prospects but are still threatened by cheaper foreign labor. Community college provides a more affordable alternative, as demonstrated by the author’s experience, and should be considered in an economy where debt and underemployment remain significant risks.

References

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