I was scrolling on social media, a common Gen Z habit, and I came across a popular infographic of a woman with a caption above stating, “Rich people aren’t telling their kids to skip college, just yours.” I interpreted this infographic as refuting the saying that “College is a scam.” I stared at the image for a while, pondering how this could not be more true. This misconception that college is not worthwhile perpetuates wealth gaps and highlights failures in the American education system.
The wealth gap between those who graduated from college compared to those with only a high school diploma is staggering. According to recent data, the median wealth of college graduates is nearly five times greater than that of high school graduates.
There are times when recent college graduates spend months searching for a job after graduation, and some people use that as an opportunity to delegitimize higher education, saying, “See? They went to college and still can’t find a job.” Cannot find a job yet. Yet is the keyword.
What they fail to understand is the long-term picture: college graduates are more likely to build generational wealth and, over time, earn significantly more than those without a worthwhile college degree. My mother, for example, was the first in her family to graduate from both high school and college, earning her degree from Indiana University Bloomington. She broke her family’s cycle of poverty and has worked tirelessly ever since to ensure that her children would never have to endure the harsh conditions she faced growing up. She went on to build a six-figure career and married my father, a Georgia Tech alumnus, class of 2001, a man who also deeply values building generational wealth. Together, they created a new, hopeful beginning for our family.
Despite the statistics maintaining that a college education leads to higher pay and eventually greater generational wealth, many people still point to the exceptions to the data. It’s true that there are millionaires and billionaires who dropped out of college and made it big. But these statements overlook that billionaires like Elon Musk and Mark Zuckerberg had already gained successful traction with their ideas before dropping out of the most elite universities in America. What often gets left out is that many of these individuals had access to elite institutions, wealthy families, powerful networks, or once-in-a-lifetime ideas that took off early.
For ordinary students who didn’t win full rides, who aren’t launching startups at 19, or who don’t have family money to fall back on, skipping college can close doors rather than open them. The millionaire dropout narrative sounds exciting online, but in real life, most people who leave school without a worthwhile degree face limited job prospects, lower pay, and fewer chances for upward mobility. It’s not about shaming people for skipping college. It’s about being honest that the odds of “making it big” without education, networking skills, or a strategy are extremely slim.
College is not solely about the degree; it is more than that. It is about social status, building a lifetime networking base, and preserving generational wealth. The rich know this.
A phenomenal example of the power of educational investment is the Asian American community. In many Asian households, there is a deeply rooted cultural emphasis on academic excellence and the long-term value of higher education. In countries like Japan, South Korea, India, and China, students face intense competition to gain admission into top universities. Mainly institutions that are globally respected and often produce future leaders in tech, science, and government. The Chinese, Japanese, and Koreans are not immigrating to the U.S. as much because these Asian countries already have established institutions like Seoul National University (SNU) and Tokyo University. In particular, South Korea and Japan are developed nations with strong economies, so they do not need to migrate to the US as much for economic opportunities.
This matters because it reaffirms that the same mindset carries over to Asian American families in the U.S., where parents frequently prioritize tutoring, extracurricular academic programs, and test preparation from a young age. This cultural focus on education pays off: an investment in education translates into higher household income. Asian American households had the highest median income of any racial group in the U.S. at $101,418, compared to $77,999 for non-Hispanic white households. Asian Americans also earn more on average than white men, a reflection not only of academic performance but of how educational values lead to better economic outcomes over time.
The real problem is not just the idea that college is a scam, but also how the U.S. education system does not teach young people how to manage debt, understand interest rates, assess long-term outcomes, or make smart financial decisions. These gaps in education can lead to the mentality that college is a trap and a waste of time: making college decisions feel like a high-stakes gamble instead of an informed investment.
I’m a living testimony of this mindset. I’ve written articles about making informed college decisions and choosing long-term financial freedom over short-term ego gratification. When it came time to pick my undergraduate school in May 2021, I chose a debt-free private institution over another with a more prestigious name. That no-regret decision shaped my values.
All hope is not lost; some solutions can be implemented to prevent this cycle of disillusionment from continuing to prey on lower-income households. We can advocate and encourage public school systems, especially, to require financial classes and exhort colleges to provide clearer data on costs, outcomes, and career placements. We can integrate personal finance and college planning into K–12 education so students of all backgrounds understand their options, not just those whose parents already know the system.
The growing trend of students skipping or dropping out of college isn’t always a sign of empowerment; it’s often the result of confusion, fear, and a lack of guidance. This isn’t just a personal issue; it’s systemic. Many students are opting-out not because they want to, but because no one ever taught them how to opt-in. In contrast, communities like Asian households often emphasize education early and intensely, giving their children a long-term advantage in wealth-building and career success.
Let’s be clear: rich parents aren’t telling their kids to skip college, they’re making sure they succeed in it. The result? The rich stay rich while the poor are left behind. It’s time we fix that, starting with education.