Education is a preparation for life and college education is the culmination point of one’s academic career. Earlier considered a privilege meant only for the elite class, college education is the norm today. Colleges churn out thousands of students every year who exiting their alma mater enter the portals of life. College education must therefore impart adequate training to the students not only to become successful professionals but also to become good and useful members of the society. Collegians form the future generation that will assume places and positions of importance in the society and the government On their performance will depend the future of the nation and the world in the times to come.It is important, therefore, to evaluate college education from this perspective. We must adjudge whether college education today id adequate to create well-rounded personalities, people with a strong sense of values and the determination to adhere to them. Unfortunately that does not seem to be the case. In a recently held survey conducted on large and varied sections of college students, it was revealed that a vast majority of them opted for college education simply to make more money. To them college education is a means to earn larger salary packets. How shocking! Education that was considered a great end in itself to attain intellectual superiority and enrichment of mind has been reduced to such a low level. Money is important in life no doubt but money cannot and should not be regarded all important. Blatant and blind pursuit of money has always caused loss of human values and degeneration of the society From the times of the great Roman Empire, there have been examples galore to establish this. Mammon worship generates all kinds of social and economic evils and total disillusionment. As civilization advances, Poetry declines. By introducing art music and drama, we can sublimate the materialistic bend of minds to artistic and aesthetic pursuits and create healthy and wholesome channels of self expression. Money remains the crudest form of self-expression while art is the noblest and the most sublime.Thus it is vitally important that art, music and drama be introduced in college education .This artistic and aesthetic input will cultivate and promote true human values like tolerance, understanding and love, sympathy and benevolence and will make people more humane in their outlook. Only then can we hope to create a happy and healthy society of contented people who would feel and say that life is truly bliss.