I hate to ask this question, but why on earth are they teaching you COBOL in school?
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If you want to differentiate yourself and stay in a very good paying job, learn COBOL. Large enterprises will need this skill for a long time to come yet. Word of advice: If you ever get a chance to learn any kind of enterprise tool, like SAP for example, always take it. It may not the sexiest thing out there, but the sports car that having the skill will pay for certainly is.