$1.2 trillion worth of college debt in the U.S.: Exorbitant student loans constitute just one reason why young people eager to experience the world may want to reconsider college, according to Ed Basler, a veteran entrepreneur and CEO of E.J. Basler Co. There is now $1.2 trillion worth of college debt in the United States, and the average borrower will graduate $26,600 in the red, according to The Institute for College Access and Success (TICAS) Project on Student Debt. "None of this guarantees a job or even that a college grad will be job-ready," Basler said. "After four weeks of business school, I - the son of a businessman - realized the professor had no real-life experience running a business, and that I wouldn't learn the practical principles necessary to succeed. But I stuck with business school for two years until I dropped out, and I haven't had any regrets 40 years later. Hands-on experience trumps a degree all the time."
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