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If you are prepared for college-level work, and especially if you intend to major in something in demand in the economy, by all means go to college. The price you will be charged will be inflated, but the investment will still pay off. If you are unprepared for college, however, or plan to major in a field with few job prospects, you should really think twice.
Basically, more and more degrees that represent less and less learning make having a degree not so much a sign that one possesses valuable skills and knowledge, but rather make it so that not having one is a red flag suggesting you have some sort of deficiency.
The hollowing out of degrees has been borne out in research showing declining literacy rates for people possessing bachelors and advanced degrees, and in stagnant or declining earnings for degree holders during the past 15 years. The big college wage premium is more a function of a high school diploma’s value dropping than a college degree’s rising.