Like others stated, I don't think a university degree is necessary to become successful, but it also depends what field you want to go into, ie Doctor. Also like others stated it's more so the personality and traits a person posseses that decide whether they will become successful.
The Bachelor's Degree is becoming what the high school diploma is. More people are moving on to Masters to help separate themselves from others in hopes of getting paid higher. It seems eventually a Masters will become necessary to get a job also.
On a side note I was reading in an article online how in 2010-2015 about 2/3 of the people attending college will be women, thought that was pretty interesting.
People usually use education and schooling as synonymous terms, which I don't like. I mean you can be educated without schooling.
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I believe young people are being railroaded in tertiary education before they have any of the life experiences that prompt passions.
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I also agree with this.
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However, let me offer on caveat - dropping out, failing, quitting or opting to avoid some 'conformity' like going to college does not is not and will never be a guarantee of success of even a sign - I think most people who drop out become drifters the case of the sucesses is they dropped out or didn't go because they were so driven by what they were doing that the degree got in the way...
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I also agree with this.