Is College a Scam?

BrianRooneyRecently, I met a young man who had passed medical school, had reportedly done well on his MCAT, and was not able to land an internship. At this point, he is waiting tables at a restaurant and struggling to pay of a student loan of close to $500,000!

When I asked him how in the world something like that can happen, his explanation was … sobering … and then shocking.

He said, “When I graduated, I was part of a graduating class that included 45,000 candidates that all scored well enough on their MCAT’s. There were only 18,000 internships available. That means that of those 45,000 graduates, 27,000 of us had no chance at landing that much needed internship. This was in addition to the more than 20,000 candidates who had graduated the year before and were still looking for an internship!

He then went on to explain how they didn’t tell him any of this when he was applying for the student loan package.

He’s not alone. Many college graduates are now desperately searching for employment so they can make those student loan payments. They didn’t receive “full disclosure” that the actual job opportunities in their related field of study may not even exist when they graduate!

With so many people applying for, receiving, and then graduating with massive student loans and having little to no possibility of landing a job in their related field of study, I find myself asking:

Is College a Scam? What are your thoughts?


BrianRooneyAbout The Author: Brian Rooney escaped the rat race in the year 2000 by starting his own home based business. Since that time, Mr. Rooney has provided tools and training for thousands of network marketing professionals via his internet marketing services. If you are looking for a home based business for yourself, be sure to view the listings at

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3 thoughts on “Is College a Scam?”

  1. I don’t believe college is a scam; it can quickly jump-start your income once you graduate … income that will likely be higher than if you skipped college for a typical unskilled job.

    However, college has become exorbitantly expensive … which means many college graduates start out with huge student loans … and it’s important that college students pick a major that is in demand (or at least projected to be in demand) or somehow supports a family business. That said, college still puts most people on the “job” path rather than the “own your own business” path. That’s fine for people satisfied for the status quo, but it does carry more risk than it used too. You will be subject to politics, economic slowdowns, long hours, etc.

    If anyone takes the “job” path (whether they attend college or not), it’s prudent to also start your own business on the side. In addition to diversifying your income (which makes you less dependent on bosses and a growing economy), a side business can cut your taxes and dramatically increase your total income.

    Any business you start these days needs to have an online presence, and that means you need to understand online marketing . A great way to get started is with the free “Online Marketing Strategies” digital magazine (see my signature block link).

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