Bill Ackman Questions Whether College Is Still Worth It: ‘AI Is Changing Education’

Legendary investor Bill Ackman is a famous alumnus of Harvard University. When it comes to recommending university education today, Ackman raises concerns about student debt and the rise of artificial intelligence.

Ackman on College

Asked on a recent podcast whether he would recommend college, Ackman cited the rise of artificial intelligence and the growth of blue-collar jobs as reasons recommending school is not easy.

"The world’s changing very rapidly," Ackman told Katie Miller on the "Katie Miller Podcast. "AI is changing education very rapidly."

Ackman said the return on investment is not being considered by many students who go to college.

"The old model of universities needs to be completely rethought."

Ackman said an education shouldn’t be simply to get a job, it has to be worth the investment to get a job and then some.

The investor said today, students can learn almost anything from AI.

Instead of going to a four-year university, students could consider high in-demand jobs like electricians and plumbers, Ackman said.

Impact of Student Loans

One of the reasons Ackman is speaking out about four-year universities is student loans.

Ackman argues that 18-year old kids were not given the same disclosures that adults get when they sign home mortgages, which leaves them with unplanned debt for decades.

The investor shares that some may be surprised to hear that if a person declares bankruptcy as a last resort for someone drowning in debt, they still will be responsible for their student loans.

Ackman said student loans were originally meant to be still payable if people in their 20s declared bankruptcy, but now people in their 40s are still drowning and should able to discharge the loans.

"I think we need to change."

Image created using artificial intelligence via Midjourney and Dall-E.