People always talk about the importance of college. But for a lot of students, college is a scam.
In my syndicated column this week, I cover some of the reasons.
"There are 80,000 bartenders in the United States with bachelor's degrees," Economist Richard Vedder said. He says that 17 percent of baggage porters and bellhops have a college degree, 15 percent of taxi and limo drivers.
It's hard to pay off student loans with jobs like those. These days, many students graduate with big debts.
Because of that, one man actually pays some students not to go to college.
Entrepreneur Peter Thiel, who got rich helping to build good things like PayPal and Facebook, is so eager to wake people up to alternatives to college that he's paying students $100,000 each if they drop out of college and do something else, like start a business.
For some students, $100,000 is worth much more than an official degree. College isn't the only passport to success . Here's the rest of my column.