>Because I somehow found myself on the mailing list of American’s For Limited Government(www.getliberty.org) I receive all kinds of right-wing press releases and articles, many of which I disagree with but read to stay informed.
While overall that is good advice, some graduates are finding their $100,000 educations haven’t provided them with the necessary skills for the modern work world.
College is more expensive than ever forcing students to pay more than 400 percent more for a college education today than 30 years ago. And as a result of increased tuition costs, students are carrying mountains of debt and aren’t finding the high-paying, coveted jobs promised to them upon graduation.
In fact, an article by the Competitive Enterprise Institute (CEI) highlighted the trend of useless college degrees and cited a study that showed “60 percent of the increase in the number of college graduates from 1992 to 2008 worked in jobs that the (Bureau of Labor Statistics) considers relatively low skilled — occupations where many participants have only high school diplomas and often even less.”
The article went on to say, “Of the nearly 50 million U.S. college graduates, 17.4 million are holding jobs for which college training is regarded as unnecessary. The number of waiters and waitresses with college degrees more than doubled in the years 1992-2008, from 119,000 to 338,000, and cashiers with college degrees rose from 132,000 to 365,000.”
What happened to the American Dream for the youth of America?
It’s simple. Because of the push for American youngsters to get college degrees through government subsidies, a four-year degree is becoming less valuable in the working world. Therefore, students graduating with a bachelor’s degree are finding it necessary to get a master’s degree or even a Ph.D to set themselves apart from the masses in order to find a relatively good job that requires their degree.
This new reality, coupled with rising tuition costs, leaves students with a mountain of debt. How are the “5,057 janitors in the U.S. with Ph.D.’s, other doctorates, or professional degrees” ever supposed to pay off all that accrued school debt?
The Project on Student Debt estimates that 206,000 Americans graduated from college with more than $40,000 in student loan debt during 2008. Also shocking is a statistic printed in the Business Insider stating that, “Americans now owe more than $875 billion on student loans, which is more than the total amount that Americans owe on their credit cards.”…