Skip to comments.The Great College-Degree Scam (the current problem of employability is not a new problem)
Posted on 12/20/2010 8:56:04 AM PST by SeekAndFind
The Center for College Affordability and Productivity (CCAP) has unearthed what I think is the single most scandalous statistic in higher education. It reveals many current problems and ones that will grow enormously as policymakers mindlessly push enrollment expansion amidst what must become greater public-sector resource limits.
Here it is: approximately 60 percent of the increase in the number of college graduates from 1992 to 2008 worked in jobs that the BLS considers relatively low skilledoccupations where many participants have only high school diplomas and often even less. Only a minority of the increment in our nations stock of college graduates is filling jobs historically considered as requiring a bachelors degree or more.
Meaning that the — inflated — tuition they’re paying is basically wasted. Remember this when you hear for-profit schools singled out for overpromising. I think the traditional higher-education sector has a lot of explaining to do, too. More:
The data suggest a horrible decline in the productivity of American education in that the inputs used to achieve any given human capital (occupational) outcome have expanded enormously. More simply, it takes 18 years of schooling (including kindergarten and the typical fifth year of college to get a bachelors degree) for persons to get an education to do jobs that a generation or two ago people did with 12-13 years of education (graduating more often from college in four years and sometimes skipping kindergarten). . . . All of this supports the notion that credential inflation arises from a perceived need by individuals to demonstrate potential employment competence through a piece of paper, i.e. a college diploma. Employers are using education as a screening and signaling device, at a low cost directly to them (although not costless because of the taxes they pay to sustain much of this), but at a high cost to the perspective employees and to society as a whole.
Read the whole thing. Some further background is here and here.
“Meaning that the inflated tuition theyre paying is basically wasted.”
Well ... you can become POtuS without ever showing anyone your records ...
So what. Getting an education is a good thing. Please don’t tell me that FREEPERS are anti- college education now all of a sudden.
Karl Denninger also has some interesting takes on this:
That's 16 years, not 12-13.
Of course. One person posts one article so that means all of Free Republic is "anti-college".
Oops. Maybe I did over do it a bit.
The problem really is the entitlement mentality that has grown up around a degree. If you are getting an education for the purpose of being an educated man, then you have no false expectations about the kind of job you are going to get. You will get an education, and then you will look for work. You will find an opening and plan to work your way up as you learn the ropes and prove yourself worthy.
But too many people have the idea that a degree means that you must be issued a job in accordance to your (elevated) station in life. Which means they will be highly disappointed when the discover that a welder with a rig in the back of his pickup is making more money than he is. Which might actually contribute to the kind of resentment we sometimes see against industries that generate well-paid blue-collar employment.
I think we made a mistake in insisting that college was the only way to correctly enter the workforce, in any career.
I do believe we neglected the other paths.
Yes, they often take entry level jobs that do not require a college degree. If they ever want a promotion, however, they usually will need that degree. Much easier to get it in 4 years when you are 18-22 and have few responsibilities than to do it when you are older, have a full-time job, a mortgage, and kids. I still think a college education, in the long run, pays off if you are not going to be self-employed.
But if it's the education you're really looking for and you don't care about the paper, you can generally get that at the public library.
I like the ‘case against’. Right. The dude can live his whole life on $10 an hour and still save $2000 an year?
If we save $2,000 a year @ 4.5% interest for 47 years we will wind up with $307,345.27. If we do so for 42 years we wind up with $237,849.58.
This means that in future values that five years costs you about $70,000 down the road.
RE: Please dont tell me that FREEPERS are anti- college education now all of a sudden.
I don’t think FReepers are anti-college per se, many however are questioning whether some degrees and courses offered have ANY RELEVANCE to finding a job at all and if it is even WORTH paying or going into debt to the tune of $30,000 or more tuition every year to study such courses.
Some are asking whether there are better alternatives...
> So what. Getting an education is a good thing. Please dont tell me that FREEPERS are anti- college education now all of a sudden.
Not anti-college education, but there needs to be some common sense applied.
Case in point: A friend’s daughter recently graduated from a university with a 4 year degree in performing arts and $211,000 in loans over her 5 year term of learning.
She currently earns $13/hr. How will she ever pay this off?
Answer. She won’t. In a year or two, she will default on these loans and we will pick up the tab in higher fees and taxes.
How many underwater basket weavers from UC Berkley does society need?
RE: She currently earns $13/hr. How will she ever pay this off?
Won’t she ever be promoted from her job or move to another one once she gains experience and eventually earn much more than that ?
After all, Everyone needs to start somewhere... Didn’t most of us start from the bottom once in our lives?
I have gone to college (although I am not enrolled this semester due to my current work load), and I intend to get a degree because I want the KNOWLEDGE - not the paper.
I realized exactly how the market was using college degrees when Miller Brewing started requiring their entry-level floor sweepers to have at least two years of college! At that point I realized it was nothing more than a parsing tool!
So, if you are getting a degree to get a better paying, more prestigious job - you are really wasting your money! But, like someone else stated - if you are interested in gaining the knowledge then the sheep skin is just a bonus!
American College of Metaphysical Theology
http://wwwAmerican College of Metaphysical Theology
But if it’s the education you’re really looking for and you don’t care about the paper, you can generally get that at the public library.
Brilliant. Great point. That was basically saying (your first part of the post) that getting a college degree is more than getting a job. It really expands your mind (and not just the liberal junk) but maths and sciences. I agree that you can get that information at the library especially if you are a go getter.
The other problem is that there is no desire to become an educated man. Certainly not among the majority of college students.
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