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[–] onegin ago 

48% of employed college graduates work in jobs that don't require a four-year degree

I personally think this stat should probably be higher than 90%. That is, if you took "require a four-year degree" to mean "the four year degree significantly improved their performance on the job."

Even with my BS in Computer science, I would say that it would have been much more efficient if I had just learned how to program on my own (which I did anyways), or on the job, or in high school classes, and then maybe had 2 years of upper-level college classes. The first 2 years of college were mostly a waste for me. For other CS students, the first 2 years were very useful to them, but the last 2 years weren't.

Point being, 4 years is a long fucking time especially when you are in a very energetic part of your life, and should be figuring out how you fit in to the real world. The opportunity cost to the country of having all these adults tied up in college is enormous, not to mention the immense friction it causes when they all have to spend years floundering around in the real world trying to figure out how to actually succeed.