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I understand some of your concerns, but at the same time, as you point out yourself, that's why there are choices available:

1. If you want a very specific skillset to do a very specific job, there are more opportunities and options today than ever before. Self-study, MOOC, bootcamps, certs, etc. Pros: fast, efficient, focused, practical, immediate. Cons: the specific/narrow focus may leave you with gaps you won't even be able to appreciate until too late.

2. If you want a more general education, Universities are there to provide. You'll get not just immediate hands-on-keyboard skills, but math and CS-theory background, and also also communication skills, discipline, diligence, social networking, perspective to be a team lead one day, etc.

Now, I do believe universities have a LOT of optimizations to make; a student's life tends to be sucky in many ways it doesn't need to. I've repeatedly found and heard of the difference in attitude between a college/bootcamp of "You're the paying customer, we'll provide knowledge", and university attitude of "you are irrelevant, be grateful, and jump through the hoops jump for the privilege" - whether from the ever-increasing admin/bureaucracy cohort (sometimes helpful, often power-blinded), the obscure rules and difficult processes, or some of the tenured professors. But again, the information is out there, the choices are available - and overall there's never ever been a better and easier time to acquire knowledge.



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