As I’ll be writing about the mental discipline a lot, which I define as “the discipline to train, educate and exercise the mind,” I want to clarify my position on the value of a college degree versus the value of self-education. I’m in the process of writing a book about self-education, which I’m an advocate of, yet I’m also helping a non-profit get off the ground that helps Marines transition from active duty to college life. As for me personally, I’m mostly self-educated but I have taken college classes, and I’ll likely take some in the future. However, I do not have a four-year degree, and I have no plans at the moment to get one.

A college degree, from my perspective, is largely an incidental occurrence that some learners experience when they pursue knowledge in an accredited institution. It is not required for success. It is not required in order to make meaningful contributions to society. It is not even required to be highly educated. Pursuit of a college degree is merely one way, a valid way to be sure, to become educated. Even then, it is not the be-all end-all of education. All college graduates, must eventually become self-educators or risk being left behind.

Here is a short list of do’s and don’ts that I’ve used to evaluate how college fits into my education plan. Understanding this list will provide clarification for why I advocate that veterans sign up for classes but also why I advocate self-education for others.

When to pursue a degree:

1. When it’s free or nearly free, DO pursue a degree or at least sign up for classes: If your parents or other benefactors are willing to pay for school, if you can get full-ride scholarships or you have veterans’ benefits, you should take advantage of the educational opportunity. You’d be crazy not to do this, as you would be turning down free money. If someone gave you $30,000 in cash you wouldn’t throw it in the dumpster, yet I see veterans tossing their benefits away without a second thought. Except in the case when going to school would prevent you from capitalizing on an opportunity, I think it’s a mistake not to go if it’s free.

As I write this, my wife, a Navy veteran, is rushing to finish up her homework for an information systems class she is taking. Her GI bill will run out this summer and she wants to squeeze the last few classes she needs out of it to get her degree. She has been taking classes for years when her schedule has permitted. She has attended schools in Japan, Hawaii, Virginia, and online. The total amount of debt taken to complete her degree: $0. I married a smart woman.

2. When your chosen profession requires it, DO pursue a degree: If you are passionate about becoming a public school teacher or a military officer, a college degree is the price of admission. Just understand the difference between when a degree is required and when it is only desired. For instance, you don’t need an MBA to succeed in business, write a book, create a great piece of art, or invent a new technology. Before you operate on someone’s brain though, someone will probably ask you for some credentials.

When not to pursue a degree:

1. DO NOT take on massive debt: How you feel about debt and how to leverage it is a personal matter, but here is my take on the subject: I don’t think it makes sense to mortgage my future, or my parents’ future, in pursuit of a college degree—at least when the profession I’ve chosen does not require it. If I were going to take on tens of thousands of dollars of debt I wouldn’t invest it in an MBA; I would invest it in a business where I would get a hands-on education AND have tangible contributions and assets to show for it. This is exactly what I’ve been doing and I’ve been self-employed now for over seven years. I supplement the experience of starting and growing a business with large doses of reading and collaboration. Moreover, there is no artificial end (like a graduation) to this kind of education. It can go on as long as I can make it go, maybe even longer if others can sustain it when I’m finished.

2. DO NOT pass up worthy opportunities: Presumably students attend college to attract opportunities so they can make a difference. So if you have a fleeting chance to make a difference, then make a difference. Would Microsoft be the company it is today if Bill Gates didn’t focus on building the company instead of completing his degree at Harvard? Probably not. If an opportunity presents itself, pounce on it. A friend of mine, Jeff Morin, who started several companies when he got out of the Marines almost three years ago, would probably lose millions of dollars over his lifetime had he decided to use his GI Bill benefits instead of growing his business which he started as a sergeant while on active duty. Plus, the education he received while getting his businesses off the ground is irreplaceable. He made the right choice for him. Bill Gates made the same choice, as did Michael Dell.

My point here is, don’t set yourself up for a life of regret. Even if my business fails in the future, I won’t regret having made the choice to pursue it. If it doesn’t work out at least I won’t have to live with the question, “What if I had pursued my passion when I had the opportunity?” I could live with the failure knowing I had given it my all. I couldn’t live with the knowledge that I was too scared to try. Could you?

Education and the mental discipline to develop it are critical. I believe the uneducated middle class will disappear. The unionized, high paying, low-skill jobs won’t be able to survive global competition. All low-skill jobs will necessarily turn into low-paying jobs or be outsourced. Your only defense is to become highly skilled - which requires becoming highly educated. Some people who become highly educated do so through college. Others are self-educated. Both ways can work. Whichever way you choose to become educated, first learn to learn, understand that you are the one ultimately responsible for your education, then commit yourself to a life of learning.

Semper Studiosus.