The fifth most often heard excuse as to why a colleague or friend isn’t getting rich is the old, “I didn’t graduate from Ivy League School.”

I say old because at one point in the history of the US, university access was strictly limited to an elite few. The term Ivy League itself refers to seven of eight universities that were founded during America’s colonial period but chartered before the American Revolution. I believe this saying originated from the distant past of America’s history.

These schools are privately funded for the most part so they’re typically expensive to attend without government subsidy for the un-wealthy.

With all the prestige of these schools, you’d expect every graduate to become a millionaire, extremely successful or somewhat high on the top wealthy people in the world list but all too often the university you graduate or don’t graduate from means very little. Passion, determination, hard work, dedication, and a little luck are often all you really need to become rich and successful.

Unfortunately, too many people think that an Ivy League degree means instant success and all an Ivy League degree does these days is open a door to a hiring manager or executive’s desk for a job interview.

I’ve had the fortune of working with Ivy League graduates vs. your typical state school graduates and although there are a few nuances, there’s really on difference between the two.

What are the nuances? Ivy League graduates tend to be more “politically refined” whereas a state school graduate will be more “straightforwardly honest.” An Ivy League graduate is almost always adverse to any type of physical labor or work whereas a State School graduate will usually do whatever is asked to get the job done even if it means getting a little dirty.

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I could write a whole book about my experiences with both groups but that’s far beyond the scope of this post! The important thing to note is that education whether earned from years of work or years of academic study coupled with determination, passion, hard work, dedication and a little luck will make you successful where ever you go.

Speaking of education, passion, dedication and hard work, check out this weeks ETF Covered Calls over at http://www.etfcoveredcalls.com to check out how I educate others on how to earn some extra cash in order to Get Rich Slick.

Click here next Friday to read the number 5 most often heard excuse why my peers aren’t getting rich, “It’s too complicated to run a business.