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James Altucher's 8 Alternatives to College

Posted Feb 08, 2011 08:00am EST by Aaron Task
It's been nearly a year since Formula Capital's James Altucher discussed his theory on why sending your kids to college is a bad idea. The segment proved to be one of Tech Ticker's most popular...and controversial of 2010. (See: Rethinking College as Student-Loan Burdens Rise)

More recently, a report based on the book Academically Adrift: Limited Learning on College Campuses found that after two years of college, 45% of students learned little to nothing. After four years, 36% of students learned almost nothing. (See: Brain Drain: Most College Students Learn Next to Nothing, New Study Says.)

Meanwhile, the cost of college keeps rising -- 20 times the rate of inflation and much faster than say healthcare costs -- and student loan debt keeps growing. As of mid-2010, U.S. student loan debt totaled $850 billion vs. $828 billion for credit card debt, according to the Federal Reserve.

So with more people coming around to the idea that maybe Altucher is onto something (vs. being on something), the money manager and author is back with a follow-up: The 8 Alternatives to College:

  • -- Start a business.
  • -- Work for a charity.
  • -- Travel the world.
  • -- Create art.
  • -- Master a sport.
  • -- Master a game.
  • -- Write a book.
  • -- Make people laugh.

"Whenever I suggest 'don't send your kids to college' a lot of very smart people invariably come back with the response, ‘well what else should they do?'," Altucher writes on his blog. "So I figure I will help people out by coming up with a list and try to handle the criticisms that will certainly arise even before they arise. I can do this because I have a college degree. So I've learned how to think and engage in repartee with other intelligent people."

In the accompanying video, Altucher "repartees" with Henry and me about his alternatives to college and addresses the most powerful thing working on behalf of higher education: The huge gap in employment between those with and without college degrees.

Aaron Task is the host of Tech Ticker. You can follow him on Twitter at @atask or email him at altask@yahoo.com

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4,972 comments

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    Occupy This Sat Feb 18, 2012 02:32 pm EST Report Abuse
    He left out rob a convenience store.
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    Rick Fri Feb 17, 2012 06:28 pm EST Report Abuse
    Fer fooks sake. This list is NOT the best alternative I've seen....
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    Daisy Fri Feb 17, 2012 11:06 am EST Report Abuse
    College is not for everybody and there is no shame in that. And college has really let America down in my opinion. The real problem is that Industry has left America with no suitable option for young people who do not benefit from a college education. The Trades are gone, manufacturing is in the third world. Plenty of reasons why. I would like to see Congress make it economically feasible for real jobs to return to America for Americans. The unions have to be blamed for this as well.
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    Laverne Thu Feb 16, 2012 03:42 pm EST Report Abuse
    All of this depends on a persons life experience. I have a high school diploma. I wasn't serious enough in high school to get grades good enough for advanced learning. I really didn't have any idea of going to college. My family was not of the economic status that does that. I retired 8 years ago. I am comfortable. I was a member of Senior Management in a Fortune 500 company at the time of retirement. Everyone that reported to me including my secretary had at least a Bachelors degree and some Masters and even a Doctrate. The big difference is that I took advantage of opportunities as they presented themselves. The definition of luck that I use is: "Luck is the intersection of opportunity and preparedness." I am really turned off by the "working at McDonalds" answer to this. There are many very wealthy people working at McDonals but they aren't the ones preparing the food and complaining about their job. They are the people who see the opportunities and take advantage of them through a positive attitude and personal drive. If this sounds like preaching, it is. I am so tired of hearing the complaining about how terrible the world is and there is no way to get ahead unless someone helps you. Well, help yourself or you will never make it. This applies no matter what your education level is. There are many people that are happy and comfortable with being tradesmen. They have a good life and make positive contributions to society. If you can do both of those things you are way ahead of the game.
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    Wesley Holman Thu Feb 16, 2012 02:45 pm EST Report Abuse
    those are some of the worst ideas i've ever heard. you know how hard it is to write a book and make money? well, then again, I'm 27...maybe I should become a professional NBA player. travel the world....on what money? be a comedian?....just as difficult.....this article is ridiculous. i'll take my student loan debt any day.
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    Dan Arthur bentil Sun Oct 23, 2011 06:50 pm EDT Report Abuse
    is very good i love, thanks alot
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    Ramon Sat Oct 15, 2011 05:23 pm EDT Report Abuse
    good article, but i still think most people need academic and formal education in order to be a better human being in a new world always changing.
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    Will Lutz Tue Oct 04, 2011 02:39 pm EDT Report Abuse
    write a book? ok
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    Jeff Tue Oct 04, 2011 01:23 pm EDT Report Abuse
    Well I guess we are missing the point..althought the guy is somewhat of a whacko, the point that two years into college I had classes that meant nothing to me in the real world. I would highly recommend the 1st two years being spent learning how to take care of your home(carpentry, electrical, etc....That way as we branch to our true majors, we won't need to higher a guy everytime something breaks..And the 50 k over the two years can actually add to something...Not just taking classes that won't ever help.
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    Cheice87 Tue Oct 04, 2011 01:11 pm EDT Report Abuse
    This guy is full of it. He only thinks this way becuase he currently has an inflated opinion of his own abilities and the role they played in his success; he doesn't realize that luck is the biggest factor. Wait and see: he will send his own kids to the most expensive schools, just like Bill Gates and all these other supposed "critics" of college.

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