6 College Dropouts Who Made Millions

Before I go on, I want to make sure we make this clear: I am in no way advocating that anyone drop out of college.

I am a  strong believer in the value of a college education, both in its contribution to personal development and to future success. And in monetary terms, the numbers bear us out: People who go to college, in general, go on to earn more money than those who don’t.

A 2002 U.S. Census, for example, found that someone with a bachelor’s degree earns, on average, over $20,000 more a year and nearly $1 million more over her or his lifetime than a high school graduate.

But then there are those few exceptions who defy convention, dropping out of college or graduate school and becoming gazillionaires anyway.

While I’m not in favor of dropping out of college, I do like a good story, and here I have a chance to tell five of them.

So here are the flukes, the statistical freaks, the six wayward college dropouts who went on to find computer-geek fame and make multibillion-dollar fortunes on some of the most innovative technology platforms of the last 20 years.

1) Bill Gates, Microsoft

Possibly the most world-renowned example of post-dropout success, Bill Gates made the bold decision to leave Harvard his junior year, in 1977. Long before Windows became a worldwide rampant technology, contested monopoly, and household name, Gates was just a slacker college student.

“I had this terrible habit of not ever attending classes,” Gates said.

Gates left Harvard to devote his time to what would later become the world’s largest software company in Microsoft, a venture he had started in 1975 with his childhood friend Paul Allen.

Now 53, Gates is worth an estimated $50 billion. Forbes has ranked Gates as the richest man in the world every year for over a decade, and Gates has given millions to various philanthropic causes.

The foundation he and his wife created in 2000, the Bill & Melinda Gates Foundation, has embarked on what some are calling the most ambitious charitable project in history, with an endowment from the Gates’ of more than $28.8 billion (as of January 2005) earmarked for global health and learning initiatives.

2) Steve Jobs, Apple

Just eight months older than Gates and the father of the Mac, that technological nemesis to Gates’ Windows, Steve Jobs followed a similar path to post-dropout mega-riches.

Jobs’ biological parents were dead-set on his getting a college education, and before Jobs was adopted, his adoptive parents had to promise that they would send him to college.

In the fall of 1973, Jobs’ adoptive parents spent their life savings to send him to Reed College in Oregon, where Jobs found the mandatory college courses pointless and uninspiring.

As he told Stanford University’s graduating class of 2005 in his commencement address, “After six months, I couldn’t see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out.”

Although he formally dropped out of Reed, Jobs hung around the campus for another year, showing up only at the classes that piqued his interest.

Jobs got his first job with Atari in 1974 and then in 1976 co-founded Apple Computer with his high-school friend, Steve Wozniak.

Jobs was ranked 49th in the Forbes 400 Richest Americans of 2006 list and has a current estimated net worth of over $5 billion.

With the trendsetting family of iPods and iPhones, sleek laptops and desktops, intuitive and user-friendly apps, and a series of visually stunning OS X operating systems, Apple continually sets the industry benchmark for innovations in hardware design, user interfaces, and digital entertainment.

3) Mark Zuckerberg, Facebook

With a net worth estimated at $1.5 billion and believed by some analysts to be the country’s wealthiest man younger than 25, Mark Zuckerberg, like Gates, is a Harvard dropout.

After launching Facebook school-wide from his dorm room at Harvard in February 2004, Zuckerberg began devoting more and more time to his program, gradually spreading it to other schools.

By that summer, Zuckerberg and his roommate Dustin Moskovitz had released Facebook to nearly 30 schools, and the website was growing too popular to be run part-time. Like Gates before him, Zuckerberg dropped out to make his technology start-up his sole focus.

Since then, Zuckerberg has received (and turned down) a $900 million buyout offer from Yahoo and pushed Facebook toward overshadowing MySpace as the most popular and fastest growing social networking site in the U.S.

Only 23, he’s Facebook’s CEO and retains control of the company.

4) Shawn Fanning, Napster

Widely known as the man who delivered peer-to-peer file sharing to the masses, Fanning is the mastermind behind Napster, the first-of-its-kind music-sharing application.

In the spring of 1999, as a 19-year-old freshman at Northeastern University in Boston, Fanning wrote a simple program that would allow users to search for and share music files over a peer-to-peer network.

The test version of Fanning’s program was a viral hit, downloaded by thousands of users and with traffic quickly outstripping Napster’s capacity. By the fall of that year. Fanning decided to drop out of school to move to Silicon Valley.

Although Napster drew the enmity — as well as the many-headed legal team — of the Recording Industry Association of America and of member band Metallica, in particular, for allowing users to illegally download free music, Napster forever changed the entertainment industry, forcing it to contend with the advent of digital media.

Fanning resigned from Napster in 2002 and went on to found SNOCAP, another music-sharing platform designed to let users access music inexpensively and legally.

5) Larry Page and Sergey Brin, Google

Larry Page and Sergey Brin were busy cooking up Google while they were still aspiring Ph.D. students in the computer science program at Stanford. The pair later went on leave from the Ph.D. program to make Google their primary focus.

Since its launch in 1998, Google has become the world’s dominant online search engine, a provider of popular free e-mail and Web tools, a cutting-edge innovator, a highly sought-after employer, and a profitable public company with stock prices reaching almost $750 a share at their recent peak.

Both just 33 years old, Page and Brin are now billionaires with net worths of about $13 billion each, ranked 27th and 26th on the Forbes World’s Richest People of 2006 list, and still pushing the Google monolith and fortune-making machine forward.

courtesy:  NextStudent.

13 Free Online Sources to Help You Through School

Whether you’re struggling with a particular class or just want to expand what you know, these 13 sites can give you a library’s worth of information right from your laptop.

1. U.C. Berkeley Webcasts

Get podcasts and webcasts of current and archived courses at the University of California, Berkeley, and both live and on-demand webcasts of notable appearances, campus events, and prominent speakers and lectures.

2. MIT Open Courseware

Choose from over 1,700 courses spanning MIT’s entire curriculum, and download free lecture notes, exams, problem sets, labs, video lectures, video demonstrations, and more.

3. Wikipedia

Almost every significant event, person, place and thing has a page on the Wiki. Just remember that Wikipedia is a user-generated and user-monitored site, so what you’re reading may not necessarily have passed a thorough review for accuracy. Wikipedia’s a great place to start when you want to know more about pretty much anything, but you may not want to rely on it as the main reference source for your term paper.

4. Podcast Alley

A directory of over 36,000 podcasts, Podcast Alley lets you search for podcasts by key words or by category. Find hundreds of language-learning choices in the Education section, Mac Attack weekly tips and tricks for your Mac in the Technology section, or The Naked Scientists’ plain-English answers to your science questions in the Science & Medicine section.

5. YouTube

Sure, you can kill time—and brain cells—watching Britney Spears going down in flames at this year’s VMAs, or witness what happens when you mix Diet Coke and Mentos. But you can also find an introduction to calculus functions, Arabic language lessons, and a series on how to create fire effects in Photoshop. Rely on other viewers’ ratings to help you filter out the YouTube junk from the truly useful.

6. Education Index

The Education Index puts a huge database of educational websites at your fingertips. Simply click on a subject like archaeology, political science, or military technologies, and instantly get a list of links to sites both general and specialized that hold a wealth of information.

7. HowStuffWorks

From the light bulb to a rocket engine, HowStuffWorks breaks down how almost anything works with diagrams and easy-to-follow explanations. Don’t have an engineering streak in you? Check out “How the Batmobile Works,” “11 Stupid Legal Warnings,” or “What if everybody in the United States flushed the toilet at the same time?” No matter what you’re wondering, HowStuffWorks probably has an answer.

8. The History Channel

Surf through video galleries, timelines, maps, celebrated speeches, significant moments, and “This Day in History.” Enter in your birthday, and learn what’s happened throughout the years on the month and day you were born.

9. Dr. Math’s Math Forum

The Dr. Math forum answers thousands of common math questions, from elementary school to college level problems. Users submit their questions to the forum, and Dr. Math will post a response. If you’re having trouble in math class or with a problem set, it can help to read through old posts on the subject—chances are someone else has had the exact same problem you’re having.

10. Science

Not just for science geeks, the online version of the popular Science magazine offers thought-provoking and easy-to-read articles on everything from advances in neuroscience and astronomy to the latest in HIV research to “did you know” conversation starters, like why it makes evolutionary sense for certain animals to eat their young or why broccoli rubbed on your skin can help prevent sunburn damage.

11. Google News

Why pick and choose between news websites when you can harness the power and variety of all of them? Google News is a news aggregator that pulls all the top stories from thousands of news sites. You can use the power of Google search to find specific news items, browse standard categories like Health, Entertainment, and Top Stories, or personalize your Google News homepage and add custom categories of your own based on key words you choose.

12. www.chemistry.about.com

Articles, diagrams, walkthroughs and Q&As at About.com cover both the chemistry basics for new students and more specialized questions for more advanced students.

13. Education Arcade

Home to educational video and trivia games suited for middle school to college students, Education Arcade is entertainment that works your brain. In one of their augmented reality games, you can use GPS-enabled handheld computers to interview virtual characters and conduct large-scale environmental analysis to try to uncover the source of a simulated toxic spill.

5 Online Tools to Help You Cite Your Research Papers

There’s nothing like MLA or APA citation formatting requirements to add even more tedious hours to your research paper that’s already dragged on for weeks. But with these easy-to-use online tools, you can get picture-perfect bibliographies and Works Cited pages at the click of a button.

1) Citation Machine

Citation Machine offers free, automatic formatting for MLA, APA, Chicago, and Turabian styles. From the left-hand menu, choose the style manual you’re using, then the type of source you need to cite (book, journal, website, etc.). You’ll get an online form to fill out with information like author name, page number, and publication date. Simply plug in the info, click “Submit,” and your formatted citation pops out, ready for you to copy and paste into your paper.

2) Source Aid

Source Aid works almost the same as Citation Machine. Select the style guide you need, and click “Start Citation Builder.” Choose the type of source you’re citing, then fill out the form with the necessary publication info. Click “Next” to get your fully formatted, rules-compliant citation.

3) Easy Bib

EasyBib is a free MLA citation tool for sources of all kinds. Just select your type of source from a drop-down menu, specify what form you found it in (print or electronic), then click “Next.” Fill out the citation info (just like in Citation Machine and Source Aid), click “Format Citation,” and you’re done! You can even view your formatted citations online or save your Works Cited list in a Word doc format as you go along. For $7.99 a year, you can upgrade to MyBib Pro to get access to APA formatting as well.

4) Knight Cite

This citation tool on the Calvin College website is possibly the simplest tool of the bunch. The entire page is nothing but fields asking for author, title, page numbers, and basic publication info. Type in the info, click “Submit,” and out comes your citation. Choose from MLA, APA, and Chicago styles, and a variety of print or electronic sources.

5) Carmun Easy Bibliography Formatting

This handy tool formats citations for five different standards: MLA, APA, Chicago, Turabian, and CSE. As with the other tools, all you have to do is fill in specified fields with requested source info. Then click the green “Format Bibliography” button at the bottom of the form, and voilá — a quick, painless, standards-compliant citation for your paper.

As you’re probably noticing, these online citation tools are all very similar. The one you end up using the most will depend on what style guide your professors require, your input and layout preferences, and the interface that you find easiest and quickest to use.

Chegg.com Textbook Rental Service

Does it bother you when you spend hundreds of dollars at your local college bookstore on books for your current semester? Does it bother you even more to find out that you get pennies back during the buyback period for what you paid so much for? Well if you are like many other college students who buy books and get frustrated when they find out that the book they paid $150 for is only worth $20 at buyback, then maybe renting textbooks would be an option for you.

I recently had the chance to try textbook rentals out for myself. Of course, since I was so use to purchasing textbooks, I was hesitant to try out rentals, but I gave it a shot anyway. I used Chegg Textbook Rentals for my books last semester. Overall, my personal experience with Chegg was positive. There were only a few things that bothered me about them, however it was not bad enough to make me stop doing business with them.

How Chegg Works

So how do textbook rentals work? With Chegg, you go onto their site and enter your ISBN number for the book that you need. They will display the book information if they have it in their inventory for rental. Keep in mind that they do not have every single book available for rent, however so far I have not had an issue with lack of inventory. Once the book information is displayed, you have the option to rent the book for a semester, quarter or summer session. You can even alter the dates to match the class dates for your school. Once you have the book you want, you do the traditional checkout by entering your credit card information for payment of the rental. You will receive your book within seven to ten days. You will also be given the return date when you are due to send your book back to Chegg. There are no shipping charges for returning books back; you just log on to Chegg, print out a label and return the book(s) via UPS.

Money Saved

When I first checked out Chegg’s rental prices, I was a little skeptical. The prices were so cheap that I thought it couldn’t possibly be right. I just did not understand how a brand new textbook at my college bookstore cost $160 but Chegg was going to rent it to me for a semester for $55. However I ordered the books anyway and my total rental for four classes was $232. I rented books for four classes. The cost of the books for me to purchase brand new from my college bookstore would have been $562.

Customer Service

Chegg’s customer service department is excellent. I had an issue where I did not receive a specific book that I ordered. I sent an email to Chegg through their ‘contact us’ link on their website. Within twenty-four hours, I received a phone call from one of their customer service representatives offering to help resolve my issue ASAP.

Going Green

Chegg has jumped on the going green bandwagon and for every book that you rent, they plant a tree to try to preserve the environment. It is true that we are destroying our planet and Chegg is trying to do their part to save it.

Other Important Notes

  • Chegg has a buyback program. If you have college textbooks, you can see if Chegg will purchase them. You will receive cash or a Chegg credit.
  • The books that Chegg rents are in excellent condition. The ones I had even looked brand new and there was no writing or highlighting in any of the books I used.
  • Chegg has a purchase option. You are able to convert your rental to a purchase by paying additional charges.
  • There is a thirty-day refund guarantee, just in case you drop a class or your class is canceled for some reason.
  • Chegg does charge late fees for late returns so keep that in mind when renting your book. However in my experience, the return date for my book was three weeks after the last day of the semester so there was no reason for my book to be late getting back to Chegg.

My only complaint with Chegg was that they send some of their books via third party shippers. So you may order five books and receive two from Chegg, one from another company, and the other two from another company. They do advise that you may receive multiple shipments, however they try their hardest to be sure you have tracking information for each of the shipments.

Overall, Chegg is a great alternative for students on a budget. It is perfect for students who do not keep their textbooks for reference and for students who do not write in their books. Before you buy, check out Chegg for rentals. You may save yourself a chunk of change simply by doing what people have been doing throughout time: borrowing.

Saving Money: 50 Tips for College Students

Being a college student usually means living and surviving on a cheap budget. Some of you may be pretty good at pinching your pennies and getting by, while others take out student loans and get themselves further into debt. Either way, all of us could use some additional advice and ideas on stretching our dollar just a bit further.

Check out these 50 ideas on ways to save money:

    FOOD & DRINK

  1. Learn how to cook your own meals, it’s healthier and you’ll save money.
  2. Don’t get a meal plan, the cafeteria food isn’t usually that great anyways.
  3. Bring your own snacks/water to class instead of buying them on campus. Stay away from vending machines.
  4. Bring your own lunch to school. If you do it right, you can usually make it a healthier lunch than what is offered in the cafeteria.
  5. If you have a meal plan, actually use it.
  6. Eat Ramen Noodles.
  7. Don’t get soda when you go out to eat.
  8. Don’t go to Starbucks.
  9. Buy food in bulk. Get a Costco card with your roommates and get bulk discounts.
  10. Find events on campus that offer free food for attending. Follow those “Free Pizza” signs!
  11. HOUSEHOLD EXPENSES

  12. Have a roommate (so you can split expenses).
  13. Shop at Walmart, Dollar Stores, and thift stores.
  14. Shop at garage sales on the weekends for any household items you may need.
  15. Put on more layers of clothing instead of turning up the heat.
  16. Buy generic brand items.
  17. TEXTBOOKS

  18. Buy used textbooks.
  19. Buy textbooks online. Maybe even consider buying the e-book version of the textbook.
  20. Check the library for your required books, you may get lucky!
  21. Sell back your textbooks.
  22. TRANSPORTATION

  23. Use public transportation. Being a college student, you can usually ride for free or at a reduced rate.
  24. Don’t get a car. They are a huge expense and cost a lot in insurance and gas.
  25. Ride your bike. Except for commuter students, no one needs a car on campus for daily use.
  26. Live close to campus and use the campus shuttles to save on gas.
  27. ENTERTAINMENT

  28. Instead of hitting the clubs, try and find house parties.
  29. Keep an eye out for free activities on campus. Most college campuses have free entertainment almost every night. For example: some colleges have a weekly movie night that is free to all students.
  30. Borrow movies from the library. The library has a large collection of movies for students to check out.
  31. COLLEGE EXPENSES

  32. Fill out the FAFSA every year.
  33. Take a look at your college bill. Certain fees are optional. If you won’t be using your college’s fitness center, remove the fee.
  34. Depending on dorm prices, it may be cheaper just to get an apartment. (See: Most Expensive College Dorms)
  35. Don’t buy anything from the school’s bookstore. Some of the prices they charge are outrageous.
  36. Go to a community college and get your core classes completed, then transfer to a 4-year college for required classes for your degree. Make sure all your credits will transfer.
  37. Do not use student loans for anything that is not school related. It’s tempting to rack up your credit and loans, knowing you’ll eventually pay it back. However, you have no idea how the economy will look when you graduate and you don’t want to be in massive debt while job searching.
  38. Test out of classes. For a small fee you can usually take a test to fulfill certain class requirements. Think of the cost you’ll save on tuition.
  39. Finish in three years if you can.
  40. Apply for financial aid early.
  41. Get good grades so you qualify for certain (typically merit-based) grants and scholarships.
  42. Work as a Resident Advisor and get free room and board.
  43. Take as many credits as allowed every term.
  44. Research your school for scholarships. That means taking a look at the website, contacting the admissions office, scholarship office, and faculty to see what’s available. Use every resource you have to get the big scholarships while keeping your eyes open for smaller, but still substantial ones. Look for scholarships in the area of your major. Most professional organizations will have scholarships to encourage students to stay in that field.
  45. Take advantage of student services. There are plenty of free programs that assist you while going to school. From health care to transportation, there are many different ways to save money.
  46. Take advantage of things that are already paid for, such as on-campus meals and library services.
  47. Get a job first and have your employer pay for your schooling.
  48. Don’t go to these colleges.
  49. MONEY TIPS

  50. Only buy what you need. Don’t buy on impulse.
  51. Don’t get a credit card. It’s not necessary and you’ll end up paying a high interest rate.
  52. If you do decide to keep a credit card on hand, pay for things with cash as much as you can. Don’t run up credit card bills for trivial things.
  53. Open up a savings account that earns interest.
  54. Keep track of everything you spend. It really helps to know what you have coming in and going out.
  55. Take advantage of student discounts.
  56. Not only should you try to save money, but you should also try to make money! Get a campus job. There are several jobs that have very little responsibility, believe it or not, and many times you can do your homework during this time. There are typically many jobs available on campus and most are pretty flexible with your class schedule.