Millennials love college. It’s what we dream about growing up. It’s what our parents talk about, it’s what our teachers talk about, it’s what everyone talks about. Going to the “promised land”… College. The college scam begins with, like usual, the boomers. Boomers shoved this college meme down our throats. They did it because they wanted us to have a “good job”. They wanted us to have a better life than they did. They wanted us to be “educated” so we don’t have to do the strenuous manual labor that they had to do. So what does the boomer say to the young millennial? Go to college, get a good job. This is where the “scam” starts. It is not so much a scam as it is a misrepresentation of expectations. Boomers told us that if we go to college and get a degree then we get a good job in return. That’s the expectation millennials have/had. College degree = Good job. Obviously, this isn’t the case. And remember, when the boomers were preaching the college dream, tuition prices weren’t through the roof. The cost of millennial college is some 500% more than the cost of boomer college. Yes, I’m including inflation and using current dollar values to compare. Boomers were able to go to college at a much reasonable price, often times being able to pay for the entire tuition in one summer’s work. Also, back in the boomer days, having a college degree actually did set you apart from peers in the workplace. Education was an asset to bring to the company. In today’s world, everyone has some sort of post high school education. My second source below is very interesting in this regard. The percentage of workplace millennials aged 25-29 that are likely to be college grads is at a whopping 40%, compared to the boomers 16%. Only furthering the boomer’s miscalculation on college. They see it as a rarity, something that really stands out. The only degree that can set you apart from others today is a masters degree or a doctorates. And even if it did “set you apart” from others in the same field, nobody cares. In reality, your degree doesn’t get you hired. Your degree does nothing. So millennials have been taught by boomers their whole lives that having a degree means a highly increased chance, or in some cases, a certainty, to get a “good job”. While this may have been true for the boomer, the almost exact opposite is true for millennials. What a degree means for millennials is burden and debt. A millennial can’t go work a summer job and pay for tuition. The millennial must go into ridiculous levels of debt to cover this magical degree that will guarantee them a good job. So they do it. And what happens? Unemployment. Now the millennial has a degree, the millennial thinks they are smart and deserving of a good job. But the offer never comes. The college educated, unemployed millennial now believes he is too smart or too educated to work any menial jobs. The college degree has elevated the millennial’s ego to a point where any job that is not 40,000 dollars a year minimum is not worthy. Now they have wasted 4 years of their life going to college, usually making no income in the process, and are strapped with many tens of thousands of dollars in long term unavoidable debt, and a piece of paper (degree) that nobody cares about. The boomers sold the millennials on college, but I can’t but the blame them. They had good intentions at the time. Boomer’s made a big miscalculation on college degrees and greatly underestimated how detrimental it would be for millennials progressing to adulthood.