Occasionally when people knowingly blow a bunch of money, they can get away with it by calling it a long-term “investment.” When they knowingly do something stupid for an extended period of time – they were only “experimenting.”

When parents send their kids to college, they should sign the tuition check knowing that – even if the kid gets a 3.5 GPA all four years – a higher education can be a BIG investment, and an even BIGGER experiment.

My advice to the youngsters who are aspiring to go to college: you should know why you want a degree before you get it. And don’t say because “I need one to get ahead in today’s world.” That’s like simply stating, “I need a motorcycle to ride with the Hell’s Angels.” Because not just any old bike will do, Johnny – I know for a fact there weren’t any Hondas parked at Altamont. Meaning that like motorcycles, not all degrees will get you where you need to be – even if they look like they can. They’ve got to have character, and that extra punch. Without that a degree isn’t worth a damn. It’s more like a mo-ped.