With the ever increasing difficulty Americans are being presented to find jobs, and huge college tuition prices, many people are wondering if going to college is the answer to economic success. In the article "Will Drop Outs Save America" Ellsberg argues that it is a wiser decision for new entrepreneurs to stay out of college. I however believe that going to college is a better financial decision for people to make, due to the high risk new businesses pose to owners and the average earnings that college graduates earn rather than high school graduates.
In his article "Using Goldratt’s Thinking Process to Improve the Success Rate of Small Business Start-ups" Ellsberg shows the reader how hugely successful companies such as Apple, Microsoft, Facebook, and Twitter, were all created by college dropouts. And although these dropouts are among the wealthiest people of the world, there is a large amount of businesses that fail. In an article by Lloyd J. Taylor, the article states "businesses with fewer than 20 employees have only a 37% chance of surviving four years" and "Restaurants have the highest failure rate, with only a 20% chance of surviving two years"(Taylor). With this information we can see how it is such a huge risk to start a new business, and how few people actually make a success off of them. If ones business failed, it would be much safer for a person to have a college degree to fall back on. With a college degree people would usually find jobs with higher salaries.
The article "College Degree Nearly Double Annual Earnings" the article states "Workers 18 and over sporting bachelors degrees earn an average of $51,206 a year, while those with a high school diploma earn $27,915"(Longley). This article shows how people with college degrees almost make double the amount of money compared to people without degrees. Because having a degree usually earns people more money, and appeals more to employers, it is obvious that having a college degree is beneficial when searching for a job.
Many people however feel that college is far too expensive to go to, and is not worth the benefits. Although college is very expensive to attend, it does pay off in the long run substantially. With college degrees people on average earn much more money, and if one owned a business having a college degree could be appealing to investors due to the experience and knowledge the individual has. And although Ellsberg supports people immediately starting businesses out of high school, it is a much wiser decision to get a college degree to keep your options open, and possibly earn a decent salary for a number of years, and use the money earned to start up a new business.
