Real estate investor Grant Cardone is doing something interesting here: he's evaluating college education the way you'd analyze a failing investment. And according to his math, higher education has racked up "$1.7 trillion of wasted unforgivable debt" with returns that would make any investor wince.

In a recent post on X, Cardone laid out his case against college as a financial decision. His argument centers on opportunity cost—all that money flowing into tuition and student loans could have gone into stocks, real estate, or basically anything else. Which raises an uncomfortable question: what exactly are students getting for their money?

The Job Promise Isn't Holding Up

The core pitch of college has always been simple: get a degree, get a good job, win at life. But Cardone points to some troubling data that suggests this equation isn't working anymore.

"4-year college degrees make up 25.3% of total unemployment," he noted.

That's not a small number. We're talking about a significant chunk of unemployed workers who did everything they were supposed to do—went to college, graduated, and now find themselves without work. It gets worse for Gen Z graduates specifically, who are dealing with unemployment rates higher than the national average. Fewer entry-level positions and the rise of AI have squeezed opportunities for young professionals right when they're trying to start their careers. Meanwhile, those student loan bills keep coming.

Tuition Keeps Rising While Returns Keep Falling

Here's where it gets really strange: even as more people question whether college is worth it—trade schools are seeing increased interest, for instance—tuition costs just keep climbing. Parents are cutting back on vacations and delaying major purchases to save for their kids' education.

But Cardone's post suggests those sacrifices might not pay off. He points out that unemployment rates for college-educated workers have doubled since the 2008 financial crisis. Let that sink in: we're talking about white-collar workers with degrees, not people who skipped higher education entirely.

According to the chart Cardone shared, unemployment figures for college-educated workers are approaching pandemic levels. This isn't about blue-collar workers or people who learned trades through apprenticeships. These are the graduates who were promised a competitive advantage in the job market.

The Debt That Won't Go Away

Cardone wrapped up his post by highlighting that $1.7 trillion mountain of student debt. And remember, that's just the principal—total repayments will be significantly higher once you factor in interest accumulation.

Consider this example: a 26-year-old recently discovered her student loan carries a 17% interest rate. Despite paying $1,500 per month for two years, she's actually deeper in debt now than when she started. That's not how investments are supposed to work.

All that money could have gone toward a mortgage, a diversified portfolio of stocks, or other assets that might actually appreciate in value. As young people without degrees continue finding work and unemployment ticks up among college-educated white-collar workers, it's getting harder to argue that college makes sense for everyone.

"Think college is worth the investment?" Cardone asked.

It's a fair question. When you treat education as an investment—which is exactly what it becomes when you're taking on debt to pay for it—you have to look at the returns. And right now, those returns are looking increasingly questionable for a growing number of graduates stuck with debt they can't discharge and job prospects that aren't materializing the way they were promised.