<p>Some people here seem to be focusing on how the lower 50% academically shouldn't go to college, but perhaps people should also consider if the upper 1% or 5% should go to college rather than just start a company or something as my feeling is that many top students academically/intellectually could make a plenty happy life with a good income without bothering with formal education at all (yes, this even includes K-12). Twain noted that he was successful at being an author in spite of his education, and I suspect many others are successful in part due to dumping formal education and doing what they felt seemed like a good thing to do. The founder of IKEA never went to college, I don't think, and we all have read about plenty like Bill Gates who started at college and dumped or like Sergey Brin who started in a doctoral program and dumped. I am not convinced that the very smartest people don't quite often come to realize, "Hey, I'd be better off not bothering with this formal education path. Time to change trains."</p>
<p>My child ad his heart set on going to college; indeed, he first told us he wanted to take classes at age 6 (as in right then, not 12 years later) and he applied at 8 and was accepted and could have started at 8, but we weren't comfortable with the notion and held him off till he turned 9. He insisted on getting two degrees rather than one, no matter how much his father urged him to just do one bachelor's degree. He graduated at 13 and wanted to go immediately to graduate school, and we were able to bribe him with foreign travel to keep him home another year rather than going directly to graduate school. He was making decent money in his year off from formal education ($200+/hour on some projects as an independent consultant and he had no problem finding work as people who knew him recommended him and he somehow also easily won the only bid he ever made using an online service despite the other 60+ bidders making lower bids as the owner of the company felt our son was the only one who noted that there wasn't truly enough information given to bid the job and asked for more information before submitting a bid). And it was a terrific set-up for him... I remember early in his consulting business, he worked 6 hours and completed a $1,200 project and rather than take on more work that week, he just did things like walk around the lake with a friend and whatever else. He also was able to work from a cruise ship (despite my being against his mixing work and vacation, taking a three week vacation was too much for one client to bare and I could sort of understand that, too) and from his home (for all but one client) and he never had to be at work at a certain time other than for meetings with clients and on business trips. And he gave this all up to go to graduate school. I question the wisdom in that move, frankly, but it is his life and he has wanted a Ph.D. from this particular lab since he was 8 and first visited it and as one friend put it to me in a bar two years ago when our son moved out at age 14 to enter the graduate program, "If the worst thing your kid does as a teen is get a Ph.D., I don't think I'd worry."</p>
<p>But as much as I've questioned our son's decision on opting to take a break from having his own business (and taking a large drop in income, not that the over $80K/year the university is spending on his being there as an RA between tuition, health insurance, business travel expenses, and the stipend they are paying him is terrible compensation, mind you, but it's not like he can save/invest as much per year as he could when working for himself) or to take breaks over the summer to just travel and have fun (as he hasn't been game to do that either), I do at least see him getting experiences that have nothing to do with his own formal education that I like seeing him have (like having discussions with swift people who can understand his research and other ideas in life, going to both teen and undergraduate and graduate student parties/dances, living in a dorm, teaching high school students college level material, teaching graduate students grad course material, etc.). Had he never gone to college or graduate school, I think he would have missed out on a lot of social and other opportunities that it's been nice for him to have.</p>
<p>So there is more to the debate on education than how much one will earn once done (or in it), but how happy a person is on the ride and what a person is learning that isn't formally being taught and opportunities to make friends more likely to "get" you and such. The math isn't all about money. And some of the math might be tough to figure as some of the cons and pros might not even be realized till after the experience is long past.</p>