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Page 1: How to quit college -- and get away with it!

HOW TO QUIT COLLEGEBY BOB PRITCHETT

and get away with it!

Page 2: How to quit college -- and get away with it!

EDUCATION IS THE BEST INVESTMENTThere is no better investment of your time and resources than education

• Better jobs• More rewarding work• Higher income• Intellectual stimulation and engagement• Understanding

For centuries college was the best place for a great education

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COLLEGES OWNED EDUCATIONJust 20 years ago, you could learn at home from:

• Parents• Books• Magazines• Television (nothing worthwhile)• Encyclopedia Britannica

Learning more involved a trip to a library, bookstore, or schoolLearning a lot required going to college

• Colleges defined ‘a good education’ • Academia cherishes its role as definer of ‘educated’

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COLLEGES ARE GUILDS FOR ACADEMICSGuilds control the practice of a craft or tradeGuilds protect their members’ incomeGuilds attempt to build monopolies of practiceGuilds seek government protection from competitionGuilds raise prices and stifle freedom of trade/practice

Fun facts:• Guilds were criticized by both Adam Smith and Karl Marx• Colleges still fetishize the trappings of medieval guilds, right

down to the special clothing, rituals, and stone meeting halls

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COLLEGE GOT IDOLIZEDPoliticians and others observed

• College graduates are more successful than non-graduates• Not many people are college graduates

People confused correlation and causation• To be fair, it happens a lot

If more people go to college, more people will be successful!• Yes, for some reasonable values of ‘more’• When ‘more’ is a very large number, not so much

We started subsidizing college• It was expensive, but good for people, so we decided to help

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COLLEGES ATE THE SUBSIDYRent-seeking is manipulating economic conditions instead of creating new value

• You get more of what you subsidize• Producers (in this case, colleges) soak up the subsidy

http://online.wsj.com/article_email/SB10001424127887324688404578541372861440606-lMyQjAxMTAzMDIwNzEyNDcyWj.html

Subsidized customers (students) are less cost-consciousColleges added stuff to capture larger available-spend

• Better facilities• More staff• More overhead

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COLLEGE IS NOW A BAD INVESTMENTCollege doesn’t deliver the value it once did

• It is both less exclusive and more expensiveA college diploma is no longer the signal it once wasThe price has been rising at 2.5 times the rate of inflation

• “Since 1985, the overall consumer price index has risen 115% while the college education inflation rate has risen nearly 500%.”http://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/

The subsidy was intended to increase access• It did, but since it wasn’t limited to consumers without access,

it increased available resources to consumers with access, leading to an increase in the overall cost.

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COLLEGE IS FOUR MORE YEARS OF HIGH SCHOOLIt has been dumbed down to accommodate more peopleEmployers have caught on and are adjusting job requirements appropriatelyA master’s degree is the new college diploma

• Four years is a long time to invest in more high school• Another year or two after college is a large investment of

tuition and highly-valuable time

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EDUCATION IS THE BEST INVESTMENT

Education ≠ College(it was, but now it is not)

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EDUCATION IS FREELY AVAILABLEYou carry a device in your pocket that gives you instant access to the sum of human knowledge and which lets you communicate directly with almost every intellectually or economically engaged person on earth.

• This is unprecedented in the course of human history• This is not a modern twist on an ancient idea

Ubiquitous Internet access is an amazing, spectacular, disruptive, transforming change in the human condition.

• This changes everything• Especially education

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CHANGE ALWAYS HAS ENEMIESChange empowers some and strips others of powerMost people are slow to understand their new empowermentPeople being stripped of power see it faster and fight back

Colleges have had power and status for 800+ years• Colleges are allowed to certify competence in most fields• Colleges are respected authorities on matters of policy• Colleges are where much research and new learning live• Colleges are praised by preachers, politicians and parents

Colleges aren’t going to give up power without a fight

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IN DEFENSE OF COLLEGEA community of learning

• Offers education that is personal, interactive, communal

A time apart for learning• A respite from the hectic world of doing and making, where

young minds have the time and space to study and think without the daily demands of making a living

A unique place dense with great minds• Access to experts and scholars who, by virtue of tenure and

disposition, are unusually available to teach and mentor

Page 13: How to quit college -- and get away with it!

ANOTHER PERSPECTIVEA community of learning

• Massive classes taught by grad students

A time apart for learning• Not if you have to work, or like to party

A unique place dense with great minds• Great(er) minds are more accessible than ever before

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THE BEST DEFENSE OF COLLEGE“Nobody is going to hire you / trust you / believe in you if you don’t have a college degree.”

• Everybody (who lives a good life, makes good money, is smart and useful and acceptable in society) does it

• It is a necessary minimum for getting ahead in society• It is just one of those things you have to do

“You have got to have credentials.”

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CREDENTIALISMIt is true – lots of people value credentials over competence

• This is a real problem if you don’t have a college degree• This is a bad sign for society as a whole• This is an opportunity for those who value competence

Credentialism is a luxury of a rich society where status, appearances, and politics can be esteemed over competence

• “The society which scorns excellence in plumbing as a humble activity and tolerates shoddiness in philosophy because it is an exalted activity will have neither good plumbing nor good philosophy: neither its pipes nor its theories will hold water.” – John W. Gardner

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STUDENT DEBT IS A MORAL ISSUEStudents sacrifice four of their most productive, energetic years to an inefficient educational system that graduates many of them alone into the world with tens of thousands in debt and poor prospects for employment.

• Starting your adult life already in debt is foolish• Do the math on a lecture hour

• Would you pay that much to attend any lecture on any subject?

• Would you pay that much for a concert?• Would you pay that much for a massage while eating

chocolate?• Education has great value, but is not necessarily worth debt

• Especially when education is now free

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EMPLOYERS ARE OVER COLLEGEJob ads require more education than ever before

• That’s because employers have realized how little value a bachelor’s degree represents

• With lots of college graduates unemployed, why not require a degree for jobs that previously didn’t?

• Why not require a master’s for jobs that required a bachelor’s?

In reality, employers seek competence• The degree is better than nothing• “Or equivalent experience” is code for “we don’t really care

about your degree if you can do the job well”• http://www.nytimes.com/2013/06/20/business/in-head-hunting-big-data-may-not-be-such

-a-big-deal.html?pagewanted=2&_r=0&smid=tw-nytimesbusiness&partner=socialflow

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QUIT COLLEGE NOWIf you know how to use the InternetIf you can learn on your ownIf you have a good job offer in your field

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QUIT, DON’T SKIP!Having gotten in and attended is nearly as good a signal to employers and others as having graduatedIt is a relatively cheap way to get most of the credential valueIt minimizes social stigma and complicated explanations

• You can still say “Back in college…”• You have the shared experience

Explanations are easy• “I didn’t want to go further into debt.”• “I was learning more on my own.”• “I got an amazing job offer.”

Just use the word ‘attended’ in place of ‘graduated’

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GET AWAY WITH ITThere is a small social stigma to dropping out of college

• This is going away, and will likely be completely gone before you are midway through your career

• More importantly, employers stop caring about college once you have experience with another employer

• Questions at interviews for your first job will be about your education

• Questions at interviews for following jobs will be about your previous job

You need a strategy to get away with having quit college

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DON’T APOLOGIZEBreaking out of the mold is a step forward

• You can explain, but shouldn’t apologize• “I just wasn’t seeing the value.”• “It wasn’t worth going into debt for.”• “I already knew what I needed to succeed in my field.”• “I found I was learning more on my own.”

Not finishing college can be a form of countersignaling• “I wouldn’t take a degree if they gave it to me.”• Works well if you’re smart• Works even better as you are more successful• Puts you in an exclusive club: too cool for school

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ACTUALLY EDUCATE YOURSELF

Quitting college is not about quitting education

Quitting college is about taking responsibility for your own education

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FIND MENTORSIdentify and recruit smart, educated peoplePeople will give you time when you are young

• Successful people like to give back to young people• If you ask good questions and listen you’ll be invited back

Get the mentors now, while you’re young• In a few years these people won’t respond

• They’re afraid of wasting time with salespeople• Don’t ask them to be mentors

• It sounds like too much work• Ask to meet for specific advice• Send possible questions in advance

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READRead widelyRead in your field

• The syllabi for all the classes you didn’t take are online• The syllabi for the better versions of those classes at the

better schools are online• Use these syllabi as reading guides

Read outside your field• College isn’t a vocational school; there is value in a broad

liberal arts education• Use published curriculum and read across the disciplines

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WATCHThe best colleges in the world are putting much of their curriculum online for free

• You can get all the best of what colleges offer while fast-forwarding through the overhead

Millions of people are teaching each other through web videoBusinesses provide free video training for their tools

• These videos often teach the discipline as well as the tool

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DO AND WRITEGet an internship in your field

• Smart employers won’t care you aren’t enrolled anymoreDo your own projects in the field you are studying

• Write up your experience as a blog post• Writing about doing helps you understand

Write book reviews for your reading• Post them to your blog or a book review site• Writing about your reading helps you learn and retain

Tweet what you learn as you learn• Condensing things to tweets is helpful for learning

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TEACHIf you really want to learn something, teach it to someone else

You can teach at a school, write tutorials on the web, or just show someone how to do something you learned.

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CONNECTWriters (of books, blogs, magazines, etc.) are starved for attention and feedback from their audience

• Comment on blogs• Email the author of every (non-fiction) book you read

• Send compliments• Ask questions

• Write to the authors of articles• Email academics questions about their journal articles• Join the conversation

• Participate in web forums that have developed communities• Engage other writers in your blogging

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SEEK ALTERNATE CREDENTIALSIt helps to have something people can refer to when they don’t have time to really check you outMany people lack the confidence to judge your competence

• In your field• In their own

Find or make credentials that demonstrate competence• Publish something in your field• Maintain a blog• Win an award• Start a business or organization• Speak at a conference• Establish yourself as an expert in something – anything

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BE HIGHLY VISIBLEPeople get more comfortable with people they see more oftenVisibility is important to establishing alternate credentials

• Make sure your LinkedIn profile is filled out completely• Build online identities on sites specific to your field• Get to know the community in your field

• Attend meet-ups and conferences• Take experts to lunch or coffee• Participate in online discussions

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GOOD REASONS TO FINISH COLLEGEYou are not good at learning on your ownYou lack confidence in your ability or willingness to learn without accountabilityYou don’t know what you want to doYou are highly motivated by your GPA and transcriptYou can afford it without incurring debtYou want to join the academic guildYou absolutely must have the credential to pursue your intended occupation

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CREDENTIALISM’S SECRET WEAPONOccupational licensing is the guild in the workplaceDoctors, lawyers, accountants, etc. need special education

• Some competency testing remains, but few ‘professions’ allow participation without credentials from approved institutions

More than 500 occupations require licensing in some state• Doctor, Lawyer, Undertaker, Falconer, Ferret breeder, etc.• http://www.econlib.org/library/Enc1/OccupationalLicensing.html

You may have no choice but college in these professions• Follow the tips on doing it for less money, in less time

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IF YOU STAYMaximize your investment

• Read ahead of your classes• Test out of every course you can• Get to know your professors

Minimize your spending• Take core classes at community colleges where classes cost

less and transfer to your school• Avoid switching majors late in the game, delaying graduation

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WANT MORE?Follow me on Twitter @BobPritchettRead my blogJoin my mailing list at http://firesomeonetoday.com

• I’ll mail you when I write moreRead my book

• 5 stars at Amazon.com• Free chapters and summaries online

http://about.me/bobpritchett