The average college graduate leaves campus with more than $27,000 in debt, thanks to the soaring cost of tuition. That's part of the reason self-made millionaire Grant Cardone says "most people should not be going to college."
"We have $1.3 trillion worth of college debt," he tells CNBC. "We have more college debt in America than we have credit card debt combined. It is a crazy program."
The value of college is a relevant debate, as a college education is now the second-biggest expense an individual is likely to make in their lifetime — right after buying a home, which Cardone also frowns upon. (Writer and entrepreneur James Altucher agrees.)