I've been saying that college is obsolete for a very long time. I dropped out in 2000, because even back then I could see that it was a really poor value proposition. I didn't predict this because I'm some crazy genius, but because I'm willing to discard emotional attachment and stare plainly at the facts.
School is outrageously expensive, leaving graduates with a debt (or net expenditure) of tens of thousands of dollars-- sometimes even one or two hundred thousand. There are some things that are worth that amount of money, but for many people school isn't one of them. In fact, apart from very specific cases, I think that school is a bad thing, not worth doing even if it was free.
That's not to say that school has no benefits whatsoever. It does, and although I left with zero additional skills after my three semesters there, I had a good time and benefited from the social aspect. The problem is that you can't just compare college to doing nothing at all. You have to compare it to what you COULD have done.
The first example I can remember was when my friends and I, nineteen at the time, bought a forty foot long school bus. The idea was so absurd and without precedent, that it seemed impossible. It was like being at a zoo, where you know that you're standing two feet away from a fully grown lion, but the invisible glass separating you prevents it from feeling real. We were ready to hand over cash and sign papers, but it seemed impossible that we would actually own this huge bus. It seemed as though some authority figure would appear out of nowhere and say, "Come on guys, this is ridiculous. Go back to school."
We bought the bus, and the world didn't come crashing down on us. In fact, the normalcy of the transaction, handing over cash for a title and some keys, was striking. What seemed like a big deal really wasn't. Buying the bus turned out to be a fantastic decision, despite everyone else thinking it would be otherwise.
We're a species that thrives on patterns, which is mostly a good thing, but it sometimes prevents us from looking outside society's canon of acceptable patterns. We all fantasize about things that we'd like to do, but then accept that they must be bad ideas because others aren't doing them. We mistake things that aren't being done for things that can't be done or shouldn't be done.
That school bus was a huge lesson for me, and not just because of what we had to learn to remodel it into a road trip vehicle. I learned something more fundamental and important, which has largely guided my life since then. My friends and I had an idea, it was derided as crazy by everyone else, but we did it and it worked out perfectly. For the first time I realized that I could do whatever I wanted to do, and it would be okay.