Bill Gross joined the chorus of college skeptics today.
"A mind is a precious thing to waste, so why are millions of America’s students wasting theirs by going to college?" he writes in his latest investment letter.
I’d like to welcome Gross to the club. I’ve been advocating this position for several years, as has the writer and entrepreneur James Altucher.
Parts of Gross’s analysis of the problem of college are very good. He correctly understands that the signaling value of getting into a good college has been greatly degraded. He also understands that the dearth of new jobs in the economy limits the value of social networks colleges create.
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