Decades ago, it was much more common for high school graduates to explore options other than college, including the military, community college, vocational schools, or entering the workforce directly. 

Now, in some sectors of society, it seems that anything other than attending a four-year university is rarely considered. As a society we have “crossed a bridge.” College has become accepted as the societal norm—a rite of passage, without much regard to gainful outcomes or cost.  

While a degree can open doors, the journey comes with real risks that many don’t consider. From the financial strain of student loans to the stress of mental health challenges, college is far from a guaranteed win. College is not the right option for most high school graduates, and it’s important to fully understand the hazards that come with college so you can make an informed decision. 

Not Graduating 

One of the potential risks of college is not graduating. You might spend years of your life and tens of thousands of dollars (or more) pursuing a degree that you don’t end up completing. 

This is one of the worst outcomes of college because you spend money and then never get the benefit. The latest data shows that, on average, only 62% of people who start college earn a degree within six years. 

If we dig a little deeper, the risk gets higher. If you are African American, Hispanic, a 1st Gen student, or from a low-income family, the chances you will graduate are lower. For example, 1st Gen students only graduate 26% of the time. 

Not Getting a Well-Paying, Professional Job 

Half of recent college graduates find themselves underemployed, e.g. making lattes. Nobody ever tells an upcoming high school graduate that college is a competition. Each year there are two degreed candidates for every college” job, Supply far exceeds Demand. 

Sixty years ago, if a student graduated with a degree in “anything,” their career would be off and running. Today, your major and your resume, in particular experiential learning, and your major are very important. An average high school graduate (3.0 GPA) is unlikely to succeed.

Student Loans 

According to the Urban Institute, seventy percent of college graduates who earn a bachelor’s degree have student loans. In a sense, the only collateral for federal student loans is your future earnings. Since half of graduates fail to get into a decent paying career, then at least half will also struggle to repay their loans. 

Depending on how much you owe, your student loan balance could cause you financial problems and put your financial future under a degree of risk. 

Financial Mismanagement 

College is a complex, multi-year, six figure project that requires a lot of planning. For example, a four-year financial plan, a career plan, and an annual budget.  

Cost overruns are common. For example, most students don’t finish-in-four which can cause a major financial disruption. Many students misgauge their student loans. 

Teenagers don’t have the skills or life experiences to manage a project this complicated. 

Mental Health or Other Health Risks 

Attending college can be stressful, especially if you already have pre-existing health conditions. Stress can cause existing health challenges to intensify or create new health challenges. 

Mental health and other health conditions are a significant reason students drop out of college. For example, 14% of college students drop out due to mental health reasons. 

Conclusions 

Roughly, only three in ten high school graduates who matriculate succeed, graduate and score a well-paying, professional job. A teenager needs adult guidance.