I'm going to avoid a lecture here so chalk this up as a life lesson you need to get and get quickly:
Keep that word in mind as you're in college, getting an internship, applying for your first job, grant, international studies... whatever it is; always remember it's competitive.
In my new part-time, temporary job my direct supervisor's supervisor is 25 years old. That's 17 years my junior. Young people nowadays often have at least two degrees, years of experience, community service as well as awards and achievements to pad their resume. Put in 110 percent to be at the top and don't settle for mediocre.
If you settle you'll look up when you're 40-something and wish you had taken a different path. The energy you will put into regret is best used now! Put it into your studies, your business and entrepreneurial ideas, your inventions, your opportunities to network, apply and succeed... put it into the places that you can look back on and smile with satisfaction that you rocked while you had the chance!
Good luck, young people.