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Despite the shortcomings above, going to college has been a smart choice for every generation prior to millennials.
But over the past 15 years, two trends have made this decision a lot more questionable: the price increased, the value decreased.
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While college tuition more than tripled over the past 30 years, the value of a college degree gradually fell due to credential inflation.
80% of the value of a college degree comes from what the degree signals to employers, not from the knowledge and experience gained while acquiring it. The problem is that signaling is a zero-sum game; earning a college degree doesn’t send a strong signal if a lot of other people have degrees.
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The Internet economy is creating new professions at a pace too fast for universities to come up with degrees to match them. Many of these professions require two or three different skills, which aren’t taught in the same degree or even in the same faculty. To deeply understand Cryptocurrencies requires proficiency in at least three fields: economics, Cryptography, and computer science. A different set of skills is required for becoming a successful Blogger.
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You should go to college if the following conditions are met:
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