Social acceptability is a big reason. Historically there were many socially acceptable ways to spend your late teenage years and early 20s including
- The Frontier
- Artistic Cities such as Paris/Venice
- Apprenticeships in factories and major industrial centers.
- University
The rise of the middle class also coincided with a consolidation into the University as being the only socially acceptable path. In practice one could probably lose money slower, have new social experiences, and learn more about art/culture spending a year in Brooklyn rather than spending 50k at a liberal arts college. Even in the realm of software development jumping straight to incubators, bootcamps and similar entry-level opportunities may provide better out of class learning opportunities than some university programs for the money and time.
- The Frontier
- Artistic Cities such as Paris/Venice
- Apprenticeships in factories and major industrial centers.
- University
The rise of the middle class also coincided with a consolidation into the University as being the only socially acceptable path. In practice one could probably lose money slower, have new social experiences, and learn more about art/culture spending a year in Brooklyn rather than spending 50k at a liberal arts college. Even in the realm of software development jumping straight to incubators, bootcamps and similar entry-level opportunities may provide better out of class learning opportunities than some university programs for the money and time.