Depends on your definition of value. If you are just talking money, then yes, college is a bad idea for most people. However, if that degree gets you the job you enjoy, that can be worth it. I would much rather be happy at what I do than have more money.
I do agree that a college degree is not for everyone. I would also suggest that those not going to college have some kind of technical training or career plan. Expecting to get a high school diploma and land a 6 figure salary is a pipe dream.
Geo, you are probably right in most cases in the computer/tech industry. Self motivation can also take you a long way. My brother started out in computer science, but quickly changed when he realized they were mostly teaching outdated systems/programming. Has done really well in software programming after learning various languages on his own and developing his own software.




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And in today's world of graphical presentations, having some visual design goes a long, long way. I remember the very first graphical user project I ever developed. It looked like a freakin colorized Green Screen. Blocky like a CICS screen.....but in purty colors, all in Windows 3.1 .......yea I SUCKED