Introduction College students are facing crippling tuition, in fact, according to a 2014 study done by the College Board, college prices are rising faster than the rate of inflation, with college prices rising at a rate of 2.9% while inflation is rising at a rate of 1.4% (Lorin). These college prices have adverse effects on the wealth and welfare of college graduates as well as the job market. Recent college graduates have to make the decision of whether to re-enter college or take a job for which they are overqualified. Due to their economic situation or the inability to find an occupation, many graduates do not have this option, as they are forced to drop out of the job force. The increasing prices of college are negatively affecting both …show more content…
According to a study done by the Federal Reserve Bank of New York, as the unemployment rates for all groups followed the business cycle, in 2012, the unemployment rate for recent college graduates ages 22 to 27, at about 6% is higher than that of other college graduates ages 22 to 65 at about 4%. (Abel, Deitz, Su). These numbers are even bleaker than they seem, as a group that is highly underrepresented are those who have decided to drop out of the job market due to various reasons, such as the difficulty to find an occupation, or the lack of willpower. This is the case for most graduates. This situation is highly evident as 1.7 million people ages 18 to 29 have dropped out of the workforce (Kasperkevic). This is harmful to the graduates, as they believe that they have missed an opportunity out of high school to attempt to get a job, since 31% of millennials regret not entering the workforce sooner (Kasperkevic). To them, entering the workforce sooner would have been an easier and less economically stressful route. However, graduates leaving the workforce or not being able to find a job within it will have terrible effects on the economy, as they will be earning no money and will in no way be boosting the economy. Rather, they will be making the economy …show more content…
A poll by Reuters shows that over 40 percent of college graduates are underemployed, as their degrees have no worth in their current occupation (Reaney). These underemployed workers are increasing competition for lower-level workers (Weissmann). As a result, the current job market makes students reconsider their options. Instead of trying to obtain a job right out of college, graduates “are finding they have to seek alternative ways to land a position that suits them,” as one graduate, Rory Molleda, started an unpaid internship, then had countless job applications before finally finding the job that he wanted (Lorin, Smialek). College graduates who decide to do an internship before applying for a job are in an even worse position than those who are underemployed. They receive no pay, which is not helping them or the economy. Nevertheless, while an internship can be a beneficial experience, the degrees that they spend four or more years earning and spending tuition and accumulating debt for go to waste for a long time before they find a job, if they do find a
In Frank Bruni’s New York Time’s article, “The Imperiled Promise of College,” he argues that college is no longer a guarantee of success because students are not being properly motivated and guided into the programs that will provide them with jobs.
Many people would become jobless because low-level jobs would no longer require employees. Higher-level jobs would lack qualified candidates to work for the companies. Reviewing the article, Dale forgets to point out that many people who go to college become successful. Yes, college isn't right for everyone, but most of the time, the only way for people to have a successful lifestyle is to attend college. The question that Dale poses to the readers is, "What happens to the kids that complete college?"
A majority of people believe that graduating from college will result in a well-paying job. Unfortunately, a degree will not secure a job for many graduates. In the U.S., the jobless rate for college graduates in 2012 was 7.7 percent, and has further increased in the past five years(Robinson). With such a large pool of unemployed citizens for employers to choose from, recent graduates are facing fewer opportunities for work due to little or no previous work experience(Robinson). Although many graduates are faced with unemployment, the majority do receive the opportunity to work. Sadly, many must work jobs they do not enjoy for salaries that make it difficult to make ends meet(Debate). Students are faced with mortgage-sized debts upon graduation, making it difficult for them to start businesses, buy cars or houses, or make other investments that would better the
“Take This Internship and Shove It” by Anya Kamenetz is about the declining state of jobs for new college graduates or current college students. Anya Kamenetz is attempting to prove that internships, particularly unpaid internships, are part of the problem of new graduates finding employment in their field of study. Kamenetz is also trying to prove internships are harmful to the job market in general. Kamenetz describes internships as “fake jobs” and states internships cause low wages and decline in young workers being part of a union. When an employer can hire someone for free he or she is more likely to do so instead of spending company money on a paid employee. Employers get away with these practices because with an already troubling job market, new graduates worry about finding jobs in their field. Colleges are either requiring students to participate in an internship to graduate or are pushing that internships are the gateway to careers. Kamenetz points out that two-thirds of college students are receiving loans to help pay for their education and it is harmful to the individual to work for free when that time is essential to make money to pay for living and school expenses.
For the past decade, The United States has stressed the importance of college education, to those seeking employment, and better careers. For most people, college is the logical next step in education, as it provides a working knowledge of a desired field and opens the door to many opportunities, but college has become increasingly more expensive as time goes on. Many people feel that college is no longer an option financially. Even with financial aid and scholarships, the cost of a college education can still be very taxing. This is due to massive price increase across the boards, but the main issue on most people’s minds is the debt that will be acquired from higher education.
...ing the mindset of the students to aspire for jobs that they will be able to pay off their hefty loans. Students aren’t reaching for their passion but rather an apathetic job that society is forcing on them.
The second chapter of this book advocates students to attend college, even if they must take on a moderate amount of student loan debt. They give statistics showing the tremendous gap in wages between a college graduate and a non-college graduate. The third chapter of this book argues the opposite viewpoint of the second chapter. The author states that the cost of college today is too high and that there are too many college graduates flooding the job market causing many of them to go unemployed or seek low level jobs that do not pay enough to pay off their student loans. Both of these chapters will help me to show the two main ...
The skyrocketing price of college tuition is causing a tremendous concern over whether higher education will be a viable financial concept to the average citizen over the next decades. Some families have opted to explore different means of obtaining a higher education for their children as these costs escalate. There is overwhelming evidence that colleges need to restructure the way they are run because tuition prices are increasing at a rapid rate causing changes in the way students fund their education and in the way the government provides educational subsidies.
Although a college education grows more and more expensive every year. People begin to question whether college is a good idea to invest in or not. “As college costs continue to rise, students and their families are looking more carefully at what they are getting for their money. Increasingly, they are finding that the college experience falls short of their expectations”(Cooper. H Mary). Many people believe that the cost of a college degree has outstripped the value of a degree.Studies show that a college degree will increase your earning power. A lot of people say that a college degree now is worth what a high school diploma was wor...
A college education has become the expectation for most youth in the United States. Children need a college education to succeed in the global economy. Unfortunately for the majority of Americans the price of an education has become the equivalent to a small house. The steep tuition of a college education has made it an intimidating financial hurdle for middle class families. In 1986-1987 school year the average tuition at a private university was $20,566 (adjusted to 2011 dollars) while in 2011 the average cost was $28,500 for an increase of 38.6%. Similarly in public universities there has been an increase in tuition: in the 1986-1987 school year the average tuition at a public university was $8,454 (adjusted to 2011 dollars) while in 2011 the average cost was actually $20,770 for an increase of 145.7%. Most families who are able to save for college try to do so, therefore their children are not left with large amounts of debt due to loans. Nevertheless, families are only able to save on average around $10,000, which is not enough to pay for a full educ...
From conducting this survey, I learned that many students,whether they attend a public or a private school are unsatisfied with the rising tuition prices. The findings support my hypothesis. The next step in this research would to ask more college students about their thoughts and opinions about rising tuition prices. I would ask more students from different types of college and students taking on different types of degree. An implication this research could have for other research is that rising tuition prices are hurting students financially.
How does the rising cost of college tuition affect us? Every year thousands of students attend a college or university, usually of their choice, with the goal of achieving a higher education and to better their future. The cost of attending college is too high and it needs to go down; there needs to be more scholarship and grant opportunities. The high cost of attending college is a major reason that students aren’t able to achieve higher education; others take this as a challenge and it is motivation for them to work harder to achieve their goal. One might ask why would someone want to spend money to receive more education and miss out on more years of work that they could’ve performed? For many, it is so they can receive more salary for the jobs that they will have later in life, also so that they can get training for their wanted career. The cost of attending college is high and continues to rise without indications of decreasing. The rising cost has many benefits such as earning more pay, but it also has its disadvantages such as the debt that is accumulated from student loans. Not everyone can afford to drop down thousands of dollars and attend school for a few more years. Students who wish to receive a post-secondary education must decide whether it is the right choice for them depending on their financial standpoint, meaning that they must decide if they have the resources to further their education.
In Caroline Bird’s “College is A Waste of Time and Money”, it’s argued that there are many college students who would be better off if they were to begin working after high school graduation. Colleges and universities can no longer ensure that one will go on to get a better job, getting paid more than they would have without a higher education. However, high school seniors still stress about where they will be attending college, how they’re going to pay for it and what they’re going to study for the next four years. Bird points out how college has changed over the past few decades and how, in turn, it has set many young adults up for disappointment, if nothing else.
Many high school graduates often get accepted to a four-year private or public college/university, yet choose to go to a community college in hopes that they will save money and stay away from debt. These students often plan to go to a community college for two years and transfer, often, with an associate’s degree. Yet most of these students do not even make it to their second year of community college. The average dropout rates for community colleges is at a staggering thirty-nine percent. That would mean out of one hundred students, thirty-nine would drop out; that is over one-third. There are many reasons as to why dropout rates are so high. Students often drop out because they are unengaged in the classroom and they do not have enough time to truly commit themselves to school. When students drop out, they limit themselves to future career opportunities and limit their earning potential.
Kahn, Lisa B. 2010. “The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy.”