- I went to college in the UK and now have a lot of student-loan debt.
- My degree hasn't helped much with my career, so I don't think college was worth it.
- I wish I'd gone to a cheaper online school instead or started an apprenticeship.
I started my English literature bachelor's in the UK in 2020 and graduated from college a few years later. But in hindsight, I wish I'd dropped out to save myself from my now-mounting debt. Everyone always told me I'd see the pot of gold at the end of the rainbow, but it's yet to appear.
It might've softened the blow if I'd needed my degree to begin my career as a freelance journalist. But at the end of my second year, I had already completed remote internships and had a few regular contracts to get the ball rolling. In my third year, I was working nearly full time.
Since then, nobody has asked me about my college degree. The focus has been almost entirely on having a great portfolio and enough experience.
I'm not sure my formal education was worth the debt I'm now accumulating.
Dropping out would've made more financial sense
I now owe about £50,000, or nearly $65,000, in student-loan debt, which increases yearly as the interest outweighs my payments.
All that money sometimes feels like a waste. My degree has yet to open any career-related doors for me. Sometimes the restrictive semesters actually prevented me from grabbing fantastic experiences that would've further boosted my portfolio and résumé.
A mixture of fear of the unknown and the sunk-cost fallacy kept me in college — even though I knew I wanted to leave. I figured I'd already spent enough time and money, so I might as well get my degree.
But it's hard to predict what opportunities will arise. How did I know at that point that nobody would ask to see my degree?
I believe my best and safest bet would've been to switch to an online degree when the COVID-19 pandemic first hit. And from that, I've learned a valuable lesson: Don't be afraid to try different paths.
There were other avenues I could've taken
As I studied during the pandemic, most of my learning was through my laptop or phone screen. The educational part of my degree was great fun, and I enjoyed the content. But given that actual online degrees are typically cheaper, I didn't get the value for the money.
I previously thought about completing an online degree while living abroad. In the end, my mom and I ultimately decided against it, questioning whether a degree obtained remotely would be as respected.
Little did we know, college would transform into online learning anyway. It just goes to show that sometimes a bit of risk-taking can pay off. I wish I'd been bolder and I would encourage anyone in a similar position to weigh the pros and cons carefully.
Another path I could have considered was a working apprenticeship. My sister's boyfriend took an apprenticeship opportunity with a prestigious company and loved the experience. With a job offer, he eventually emerged debt-free and ready to embark on his already-blossoming corporate career.
I liked the experience, but I'd be wary of recommending university
In hindsight, I could've dropped out, potentially finished my higher education online, and reduced my current debt without impacting my career trajectory.
But you can't go backward. I'll chalk up the experience as "you live, you learn" territory. I still enjoyed some aspects of going to college.
I'd just be wary of blindly recommending the higher education route to every young person. It really isn't for everybody. It's worth weighing whether it's a smart financial decision in the long run.
For me, the jury's still out.