The Declining Relevance of a College Degree

Head to https://chime.yt.link/tX7H2N6 to get up to $350 and earn up to 3.00% APY with Chime® Thanks Chime for sponsoring this video! Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://www.howmoneyworkslibrary.com/ ----- My Other Channel: @HowMoneyWorks @HowBusinessWorked Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images 📩 Business Inquiries ➡️ [email protected] Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #university #studentdebtcrisis #career ----- To college or not to college is a debate where the opinions often outpace the data. On one side there are the people who see it as the only way to get a stable, respectable and lucrative job that will be the proverbial golden ticket to the middle class. And on the other side there are the people who claim that a college education is for shmucks who will bury themselves in debt only to get a job that barely pays better than a lot of other professions that don’t require spending 3 to 4 years outside of the workforce. The annoying thing about all of this is that…. They are both kind of right, but in the wrong kind of way. College graduates still out-earn their non graduate peers, by more than 50%, but after accounting for the debt, the years of lost earnings and a healthy amount of selection bias, the pay gap shrinks more than you might expect. The "guarantee" of a middle class life is also getting a lot less… well… guaranteed. Male college graduates in particular now have an unemployment rate just as high as their non graduate peers. This is all to say nothing of rampant UNDERemployment, because let’s be honest with ourselves, the stereotype of a barista with a masters degree didn’t come from nowhere. To make matters worse, on either side of this debate there is a lot of money to be made either by institutions that need to keep their admissions consistent, or people trying to sell you the secret to wealth without higher education through their forex daytrading system. [clips of course bro’s talking shit about going to college] Either one is an effective message to a lot of people who are often very young, very impressionable, and not very well equipped to be dealing with potentially hundreds of thousands of dollars worth of debt… Oh and well, if all of this wasn’t confusing enough already there is now a multi trillion dollar industry than hinges on being able to make these graduates completely unemployable… ----- Chime disclosures: $350 Intro Offer: *Terms apply. Limited time only, must open the new account and complete qualifying activities to earn 3 individual rewards, up to a max of $350.00, as described at https://www.chime.com/policies/newmem.... 3.00% Chime+ APY is only available to members who maintain eligibility for Chime+ status, otherwise the 0.75% APY will apply. APY means Annual Percentage Yield. No minimum balance required. See Chime.com for details. Chime Checking Account is required to be eligible for a Savings Account. The national average rate can be found on the FDIC's National Rates and Rate Caps website here: https://www.fdic.gov/national-rates-a.... Round Ups: Only debit card and credit card purchases can receive round-ups. Split Pay: Must receive a qualifying direct deposit of $1 or more. Chime is not FDIC-insured. The Bancorp Bank, N.A. and Stride Bank, N.A. are the FDIC-insured members. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. FDIC deposit insurance limit is $250,000 per depositor, per insured bank, per ownership category. For Savings Account depositors, funds are eligible for FDIC insurance when it arrives at the bank. See details at www.chime.com/savings-apy-and-program-banks/.