The ABC News television program 20/20 ran a fantastic story this evening regarding the perceptions of individual worth when tied to one’s salary, education, and profession. The gist of their argument, I think, is that these things shouldn’t matter, and the fact we still have stigmas about disclosing our salaries, or biased beliefs towards obtaining education, shows our societal ignorance to those things that bring true happiness.

I am a self-admitted education snob. I sincerely believe that an individual should achieve or strive for as much education as possible. Admittedly, I also look with some disdain on those people I meet who don’t have "advanced" degrees. Over time, I’ve been able to shed some of my own dissolutions regarding education, and appreciate that there are valuable trade/tech programs that provide the skills and necessary training to enable people to contribute highly to society. In fact, many of these programs enable individuals to make more than their "professional" counterparts, without the debt and dissatisfaction associated with those "advanced" degrees.

The 20/20 broadcast seemed to make this same point. The producers used dissolutioned college graduates to reiterate their mantra that sometimes the college education doesn’t pay. I can somewhat relate, although I think I was in a better element because I left my undergraduate career debt-free. (Note that I’ve since amassed mounds of debts pursuing a professional degree, to which I’ll be buried for the next 30 years).

I think this is the real difference between my illusions of the value of a college degree, and these individuals on the program. While they’ve plowed themselves under a financial burden that quite possibly cannot be overcome, others who tend to succeed afterward use their financial resources during college to prepare for success afterward. The common quote among those interviewed was that they "were lied to" regarding their job prospects. While I believe that might be true in some circumstance, there’s quite possibly no illusion to the old adage "starving student." I remember fondly my father’s advice to "not live like a millionaire during college, because you’ll live like a student when you’re supposed to be a millionaire." The same truth presented itself when I began law school.

Far too many "students" are not taking advantage of the "student life" ( or maybe too much advantage of the student life), and keeping some sense to themselves. This is certainly a reflection on the beliefs and attitudes of this generation, but more too, it’s a reflection of the mindset we as parents are instilling in our children. We’re teaching the children that it’s easy to have the things we have as parents, and there’s no consequences if you’re charging up some costs.

This credit crunch stems from our own reflections of these philosophies in the way we raise our children. Rather than giving our kids the cheap iPod knock-off, we’re giving them the real deal. It’s no wonder then that when our children leave for college, they’re faced with particular financial challenges and meet them the same way they’ve always done, with more money (on credit).

Contrary to the reporters’ assertions, I don’t think the bachelor’s degree has lost it’s luster. I think we’re too anxious to have money now that we forget the sacrifice it takes.