There are those young people going to college that have all the money for it and life handed to them, that can afford to party a liberal arts degree away and maybe even gain something out of life doing it. However the vast majority going to college need to weigh their options carefully, since the jobs market it is very hard thing to break into right now. Picking a major with a large amount of jobs available is something that should be better promoted.
Choosing the right college major is like steering your destiny. You need to pursue based on your interests. Just for the sake of the society, earning a degree is an utter waste. Choosing the right major, especially with a tremendous growth in the future is more important. Maybe people are employed in a stream totally different from what they actually learn. But waiting for the right opportunity yields more than what is expected.
Yes, choosing the right college major can save graduates a lot of time and money in the future. Knowing what you are good at in college and then finding a major will help to propel you in the real world, and not having chosen the right major can lead to more college which will cost more money.
No, I do not think that choosing the right major is that important. More and more people are performing jobs that they did not go to college for, or even major in, so choosing a college major is not as important as making sure you get good grades while in college.
Unless a student is planning and really wants to go into a very specialized field, choosing a college major is not such a strict decision. Unfortunately we've gotten away from the value in liberal arts, and back in the day, students simply got liberal arts degrees, and did not choose one particular area. I think that produced more capable-thinking adults, who would be productive in any field they choose.
While I have to agree that whatever college major you choose is pretty important, it isn't as important as choosing whatever program you will do in graduate school and beyond. It's important to choose a general category of studies, such as humanities, engineering, writing, and things like that. But when it comes to professional degrees, that is much more important than an undergraduate major.