<p>Is it possible to have too many college graduates? For years, the conventional wisdom has been that those with higher education will earn more over their lifetimes, boost the nation's economic productivity, and build the stock of human capital. But the developed world finds itself now in a peculiar situation where college attendance is generally rising, while economic growth is slow or even nonexistent. More young people are going into the college pipeline and coming out to face unemployment or underemployment, often settling in the short term for lower-paying jobs that traditionally haven't required college degrees. And while the cost of getting an education may temper any graduate's full potential, students everywhere are working to reduce that cost and boost the return on their educational investment by seeking cheaper ways to go to school, including taking classes online, earning a cheaper two-year degree at one school and finishing their education at another, and, in some instances, even leaving their home country altogether for a lower-cost education.</p>
<p>But you left out the most important observation:
“But the recent cohort of college graduates, according to a recent study by the New York Fed, will still do better than their noncollege peers as they age and move into the white-collar and professional jobs generated by a healthier economy”</p>
<p>But the question is, is the difference referred to in #2 due to the value of a college education (generically, as opposed to for a specific in-demand type of job or career), or the devaluation of the high school diploma?</p>
<p>One (out of three) of mine isn’t going. She’s being pretty smart about the ways in which she is going about getting skills. Once she is seen as truly mature, I think her prospects for what she wants to do will be good. Honestly, the real problem is that employers don’t always want newly adult employees for many jobs and, in fact, many young adults aren’t ready for them yet.</p>
<p>I think it’s a shame that everyone feels so pressured to go to college versus other types of training, and there should be more funding put into other options. There should also be more internships open to non-students. People are going into debt, or suffering while working or caring for kids while also trying to get a degree. Teenagers are made to feel there is no other way. And in fact, unfortunately, that is becoming a reality.</p>
<p>The world is changing. Sitting in a classroom in order to learn is no longer essential. We have many ways to learn what we need to know. Meanwhile, if a job is the reason people are going to college, many could do better with an associate’s or certificate related to a trade, at community college, or learning on the job. </p>
<p>Some students really love college and are actually intellectually stimulated and happy there. Those students should go to college regardless of career prospects from doing so. Others want careers that really do depend on college. But for many others, there should be respect for other paths.</p>
<p>The more the stampede to college continues, the more degree inflation we will see, and the bachelor’s itself will go the way of the high school diploma in terms of value- if it hasn’t already. Meanwhile, schools benefit from government Pell grants and other funding as they enroll more students who need them.</p>
<p>Has everyone checked the cost of graduate school? Will that be the next thing everyone feels compelled to do, to stand out? How will we pay for that?</p>
<p>Or another question I would add to ucbalum’s, is the difference between college graduates and their noncollege peers simply a reflection of individuals (correlation not causation). Brighter, more motivated people are more likely to go to college - these are also the people who will be successful regardless of whether or not they go to college.</p>
<p>The lack of success of the additional college graduates in recent years is a indication that they should not have gone to college in the first place - and they would not have had they been born fifty years earlier.</p>
<p>Cross-posted (and largely in agreement) with compmom.</p>
<p>Stepson did not go to college and is wildly successful as a chef! Know thyself!</p>
<p>The report was written by a Rating Agency. It represents thoughts of Investors. The concluding summary is (emphasis added):
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<p>There may be pricing problems with the non-elite schools (as cheaply as possible). A lot of that is already being seen with the lower ranking schools. I would not be surprised to eventually see financial issues for the mid level schools (get the cost of the degree in line with the benefit/ability to pay). Investors many not be as easy to lend money to schools that think too highly of themselves (charge too much).</p>
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<p>Note that not going to college is not the same as lack of education. One can follow alternate paths of education, including self-education for those motivated enough in some fields, to become educated enough to do well in some fields. However, that can be more difficult if hiring in the field tends to emphasize holding a credential (like a bachelor’s or higher degree in a specific field, or from a college perceived to be “good” by the relevant employers).</p>
<p>Oh, I agree ucbalumnus. Stepson graduated from CIA.</p>