College and Debt

Many may have thought that discouraging college loans and large college expenses was not practical in today’s world. How many times have I heard the excuse given for getting in debt for college is that the college degree will pay back the loans and debt in excess?

Well here is the truth straight from Business Week.

MBA Pay: Riches for Some, Not All

While some grads make hundreds of thousands, others make a pittance while they start their own companies, and still others are unemployed. No matter how you look at it, the fantastic notion of a diploma being an express ticket to a big company’s corner office is probably just that — fantasy.

But isn’t a college degree necessary to do well in life?


Michael Dell, who started Dell Computers, dropped out of college at 19 to be able to run the business he had already started.

Bill Gates attended Harvard mostly so he could have access to their computer systems. He was just haphazardly taking courses. After having begun college, he got his parents to agree that he could stop in order to start his business Microsoft, he never returned to college.

Or how about Milton Hershey who with only a fourth grade education started Hershey’s.

Ty Warner the creator of Beanie Babies also did not have a college education.

Now granted there are several fields in which a college degree is required, particularly in medicine. But there are ways to acquire the required degree without being burdened down with debt. There is the military option of getting a degree. The military will pay for college and even living expenses for certain fields that they have need of such as engineers and medical. After college, the student then serves in the military for a few years.

Many hospitals will help pay for college for their entry level employees. So a person could start out as a nursing assistant and work their way through several levels by having their job pay for the additional schooling.

Another source of educational funding is the Underserved Areas system. In this those typically going into the medical fields of nursing, dentistry, or doctors can have their education paid for them. Upon graduation they are stationed in an Underserved area for a particular number of years. Areas such as rural areas, the Appalachians, or Indian Reservations are the typical Underserved locations.

There are many different ways to acquire a College degree if that is what the Lord will have you or your child do. All without incurring debt. But a college degree is not as necessary as the college systems have been leading us to believe.

Colleges are a big industry in the US. Maybe even the biggest we have. It is in the college systems best interest to convince everyone that college is required to succeed in life. However, the last thing any parent needs is debt and a college educated fool who says, “There is no God.” So many colleges make it their goal to disparage a student’s faith in God because an “educated person couldn’t believe such silliness.

Psalms 53:1 The fool says in his heart, “There is no God.” ESV

Proverbs 17:16 Why should a fool have money in his hand to buy wisdom when he has no sense? ESV


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