Is college necessary when you have YouTube?

College serves several purposes for students. Learning to balance a social life, work and school can make or break some. The life skills that most universities give us are so valuable, but are they really worth the thousands of dollars in debt they cost us?

Did you know that university is not the only option for continuing education? Until recently, students had to shell out thousands of dollars to learn a new trade or industry at a university. During the last years, Youtube has changed the situation and has become a medium for a wide range of free and quality information.

Financial expert and founder and CEO of The state of mind of minoritiesJaspreet Singh has long believed that if you play your cards right and find credible sources, you can find out everything on YouTube, all for free. According to Jaspreet, YouTube is decentralizing the education system.

The school system

Let’s take a step back and explore what drove YouTube to provide these awesome resources in the first place.

To understand this, we need to verify the original source of our society’s educational resources – the school system. In America, public education is available for free – until college.

At the dawn of “university age”, students decide whether they want to continue their education or find a job without continuing their education. It is certainly a social norm to fill out college admissions applications, pray for your entry, and feel grateful when you put together enough scholarships, grants, and loans to fund your college experience.

However, nowadays many entrepreneurs are realizing that they can have innovative careers without this step! Their experience, charisma and work ethic begin to mean far more to businesses and customers than any number of years of additional education.

How did this change start? Why isn’t college so appealing anymore? Jaspreet Singh noticed that there is two major factors which affected this shift: accessibility to college and the normalization of indebtedness.

From exclusive to inclusive

First of all, continuing education was more exclusive. It was difficult to get into college, and even more difficult to get a private loan to pay for your education. Therefore, the rich or the very intelligent were certainly favored.

Not everyone could afford, or intellectually manage, the opportunity to go to college. If that were the case these days, many of those currently enrolled in college would not have had the chance to be accepted.

Over the years, the government has started to lay down a plan to make college more accessible to everyone! Exciting, isn’t it? Not exactly. When everyone is special, no one is. Now the government is providing loans to all students who need them. Anyone can get into debt; anyone can go to college.

In response, universities have made the prices of tuition astronomical, because good, they are funded by the government! And admissions processes have become considerably easier, as the more money students receive, the better for college.

The more time passed, the more students had to shell out to pay the tuition fees. And, the less exclusive college has become. When an asset like a college degree becomes commonplace, it no longer has the scarce value it once had. Now university degrees are worth less and less. And they are becoming more and more expensive to secure.

Is debt now inevitable?

In 2020, the average amount of student debt held by a student was approximately $ 30,000. Over the past 10 years we have seen a 20% increase in the average amount of student debt held by students. This continued to normalize the taking of student loans and increase the value of loans considered “normal”.

Today, students generally consider themselves lucky to graduate from a 4-year degree with less than $ 30,000. It seems “feasible” to take on this “small” amount of debt in exchange for a degree. But how long does it take former students to repay? Recent statistics show that, on average, 20 years for borrowers to pay off this student loan debt. Does the loan still seem “doable” and “small” now?

Because of this societal standard of debt, students have been conditioned to think of it as just a way of life; that this is the only way for them to become a successful professional. Most borrowers face the reality of their debt, interest rates, and increasingly insignificant degrees after graduation, and that’s not a pretty reality.

In our society today, debt has become almost inevitable. It is understood as a necessary evil to obtain a diploma, housing or a car. However, Jaspreet discovered that there are many alternatives to this educational debt burden in the online world! The main alternative to formal education today is YouTube (and spoiler alert: it’s completely free).

The power of YouTube

YouTube entered the internet scene in 2005, as the first true platform available to users to create and watch all the videos they loved. It has responded to today’s need for video entertainment, and continues to do so today, among other video platforms like TikTok and Instagram.

YouTube quickly rose to fame, as a medium for video ads, home videos, presidential debates, and later informational videos. Content creators have started to see the need for accessible, informative and useful content for consumers.

Over 15 years later, there is a YouTube corner for everyone. Need help with your biology homework? There is a chain for that. Do you like weird cat videos? Look far. Need to understand how to replace your kitchen backsplash? There is a YouTuber who can guide you.

Essentially, YouTube has created a platform for “experts” to share their knowledge and “newbies” to learn more about any topic they like. You can choose the experts that suit your learning styles and find the corner of the Internet that best meets your needs. Jaspreet has created a valuable channel to share his expertise on financial truths with The Minority Mindset Youtube channel.

YouTube has radically changed the problem-solving abilities of professionals, which means they can solve any program, topic, or industry issue they have in real time, at work, from their phones.

Are you a professional who wishes to build up a wealth? Stay on top of financial terms and news by browsing YouTube. Most of us can’t justify giving up an extra $ 30,000 for a finance degree. Enter: YouTube.

For Jaspreet & The state of mind of minorities – YouTube started out as a hobby. But after a few years of making videos, Jaspreet realized that YouTube was more than just a place to make entertaining videos. It is a place to provide accessible financial education.

If you hear words like crypto, ETF, investing, stock market, and wealth and you’re not sure what these things mean, Jaspreet breaks these concepts down so you can be confident in your financial journey.

Jaspreet used The Minority Mindset to leverage his YouTube channel into something more – a full-fledged financial media company. Jaspreet leveraged the success of his viral YouTube channel in his business to build a brand bigger than YouTube.

For example, if you’re looking for a step-by-step guide on how to get started on the stock market, the team at Jaspreet has put together a free guide that you can read, they have a daily financial newsletter and a blog.

So YouTube lets you learn whatever you want, from teachers who do what they teach. And they offer entrepreneurs the opportunity to educate and speak directly to their audience.

Stay innovative

You can get all the information you want on YouTube, but it’s up to you to continue to challenge yourself to be creative and innovative. The world doesn’t need more college degrees, it needs more people with entrepreneurship and the power to solve problems and find creative solutions.

Employers are no longer looking to see “if” you graduated. They are looking to see if you can learn a new system and find solutions to their everyday problems. You might not have learned it from college, but YouTube can.

While college may have served many purposes for most of us, is it worth the debt that comes with it? Where there are arguably better sources of online education (for example, free), how to continue to justify the debt that accompanies each diploma?

With YouTube’s educational content and your unique personality, you have the tools you need to have a successful career and a healthy financial life, without the burden of college debt.

Posted on January 9, 2022

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