One-quarter of college grads are in jobs that don't require a degree. And of the 30 jobs projected to grow the fastest in the next decade, only 7 require a standard 4-year degree.

Although it may not seem like it based on what you hear in the media and from the general public, there are a number of very legitimate opportunities other than the traditional 4-year college for graduated high schoolers to take a look at.

Ultimately, you have to think about your life goals. Mary Docken, a prominent voice in education advocacy, says, "Students need to think about what their interests are, how they like to learn, what motivates them, what financial realities they face, what type of work they see themselves doing – (sitting behind a desk with a computer in front of them, building things, working with people, etc.)."

For some professions – like many of those in STEM fields – college is absolutely the right choice. But for many, it ends up being a waste of time and money. For some, college even limits your career options, as you get strapped into thinking you have to go into a certain major (most often business) in order to be successful. That's just not the reality, however.