I Told You So 29

For years I have been telling you that too many young people are getting college educations and that more need to go to technical and vocational schools because we just don't have enough jobs for all of the people with college degrees. It seems that more and more people are now realizing this to be true. Today, in Newsmax, I read a very good story stating that more and more experts are now saying that most people should not get college degrees. Below are some excerpts from the story at Newsmax.

The notion that a four-year degree is essential for real success is being challenged by a growing number of economists, policy analysts and academics. They say more Americans should consider other options such as technical training or two-year schools, which have been embraced in Europe for decades.

As evidence, experts cite rising student debt, stagnant graduation rates and a struggling job market flooded with overqualified degree-holders. They pose a fundamental question: Do too many students go to college?

I am pretty sure I have answered that question for you in previous essays.

President Barack Obama's wants to restore the country's status as the world leader in the proportion of citizens with college degrees. The U.S. now ranks 10th among industrial nations, behind Canada, Japan, Korea and several European countries.

But federal statistics show that just 36 percent of full-time students starting college in 2001 earned a four-year degree within that allotted time. Even with an extra two years to finish, that group's graduation rate increased only to 57 percent.

Spending more time in school also means greater overall student debt. The average student debt load in 2008 was $23,200 - a nearly $5,000 increase over five years. Two-thirds of students graduating from four-year schools owe money on student loans.

And while the unemployment rate for college graduates still trails the rate for high school graduates (4.9 percent versus 10.8 percent), the figure has more than doubled in less than two years.

"A four-year degree in business - what's that get you?" asked Karl Christopher, a placement counselor at the Columbia Area Career Center vocational program. "A shift supervisor position at a store in the mall."

Well we already know that Obama is nothing but a walking ego. Please note in the above statistic that they don't tell you how many of the college graduates who are employed are not working in jobs related to their degrees because they couldn't get jobs related to their degrees. We should be asking what percentages of college graduates who are employed are working in unskilled labor, skilled labor, and as "mom and pop" entrepreneurs which don't require a degree?

Ohio University economics professor Richard Vedder blames the cultural notion of "credential inflation" for the stream of unqualified students into four-year colleges. His research has found that the number of new jobs requiring college degrees is less than number of college graduates.

Vedder's work also yielded something surprising: The more money states spend on higher education, the less the economy grows - the reverse of long-held assumptions.

"If people want to go out and get a master's degree in history and then cut down trees for a living, that's fine," he said, citing an example from a recent encounter with a worker. "But I don't think the public should be subsidizing it."

Finally, some one is beginning to address reality and noting that many college graduates are getting jobs which don't relate to their degree or any degree. He is also beginning to realize the adverse affects of taking money out of our economy to provide more people with a degree than can possibly use those degrees. Unfortunately, he still has a long ways to go in addressing these issues.

Margaret Spellings, former federal education secretary under George W. Bush, remains a strong proponent of increased college access. She points to research showing that college graduates will on average earn $1 million more over a lifetime than those with only high school degrees.

"It is crucial to the success of our country and to us as individuals to graduate more students from college," she said at a National Press Club forum earlier this year. "We Americans greatly believe that education is the great equalizer."

Note that this twit is using the very common commie trick of quoting simplistic statistics lumping much lower paid unskilled labor in with much better paid skilled labor to mask the truth showing that the differences in income between skill labor and college graduates are not that large and that skilled laborers often make more than college graduates. This is a very common scare tactic used by the liberals to frighten you into believing you will live in poverty if you don't get a college degree when skilled laborers often make more than a lot of college graduates.

For many, the dream of earning a college degree - and the social acceptance that comes with that accomplishment - trumps a more analytical, cost-benefits approach.

John Reynolds, a Florida State sociology professor, found that unrealized educational expectations do not lead to depression or other long-term emotional costs.

"Rich kids, poor kids, 'A' students, 'C' students - we really didn't find any lasting impact on not getting the degree," he said.

Scaglione suggested that nothing short of a new definition for educational success is needed to diminish the public bias toward four-year degrees. He advocates "certification as the new education currency - documentation of skills as opposed to mastering curriculum."

"Our national system is, 'Do you have a degree or not?'" he said. "That doesn't really measure if you have skills."

Basically, what he is saying is that, as long as you make good money, most people really don't care whether you make it with or without a college degree...well...except for the social snobs. Well, at least the experts are finally catching on.

What should your kid do? What do they enjoy doing? God taught me a long time ago that, if you really want to make a lot of money doing something, do something which is marketable and you enjoy doing it and you don't have to have a college degree to achieve that. Second, not every person on this planet has to be the richest person on the planet to be happy. Most people can be very happy just making a good living doing something they really enjoy doing instead of doing something they don't enjoy doing but making more money. I have been noticing more and more financially successful people leaving better paying jobs to do something they enjoy doing making less money. More people are placing more emphasis on liking their jobs and less on how much money they make doing their jobs.

In other words, the liberals got it wrong again.

Home Page

I Told You So 30