Robert Kiyosaki Says You Don’t Need College Debt To Be Successful: Do These 5 Things Instead
Written by
Adam Palasciano
Edited by
Cory Dudak
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Student loan debt is a brutal reality for many Americans. According to LendingTree, Americans owe a collective $1.77 trillion in student loan debt as of the second quarter of 2023. Most Americans regret taking on student loan debt and this staggering figure is one of the largest debts held by Americans today.
Robert Kiyosaki, author, entrepreneur, investor, and the creator of The Rich Dad Company is against student loan debt, and for good reason.
He describes student loan debt as “a financial plague.” Ultimately, he is a strong believer that you don’t have to acquire college debt to be successful and needing a college degree to become wealthy is an old fashioned way of thinking in today’s modern society.
5 Things To Do To Achieve Financial Success Without Student Loan Debt
In a recent blog post, Kiyosaki highlighted five things you can do to be successful that don’t involve student loan debt.
- Start Investing: Investing from a young age can help you grow significant wealth in the long term. Why? The magic of compound interest. The earlier you start investing, the more time your money has to grow.
- Consider Non-Traditional Education: Rather than go to college and assume debt you may never be able to pay off, consider alternative routes to educate yourself. You can read educational books, network with professionals, and even attend professional seminars, all of which are a fraction of the cost.
- Create Your Own Business: Starting your own venture can lead to greater earning potential and professional growth. If you have an entrepreneurial mindset, starting your own business rather than going into student loan debt or working as an employee could yield you greater wealth.
- Work To Learn: Consider a non-traditional route such as attending an institution such as the Merchant Marine Academy first. Kiyosaki did this and left the institution with invaluable skills that gave him access to high paying jobs. Through his work there, he gained important knowledge and ultimately the ability to apply himself and become an entrepreneur.
- Give Back To Your Community: Alongside your professional career, always make time to give back and serve your community. This can be through volunteer work, for example. Giving back allows you to network with people you otherwise would never meet, creating connections that can advance your career.
More From GOBankingRates
