What is the point of higher education?

Clearly, the purpose of higher education can encompass a wide variety of elements: labor market success; public service to society; and the development of students’ social skills, critical thinking skills, empathy, and commitment to civic engagement, to name a few.

Why are degree holders poor?

Many graduates and degree holders are becoming progressively poor because the skills required in the modern world to get rich are not taught in schools and institutions. Skills like critical thinking, creativity, people’s skill, STEM skills (e.g Coding), complex problem-solving skills etc.

Is university education necessary for success?

Having a formal degree does not directly lead to a successful career. If we look into the current scenario most of the employers place a higher value on experience, which could mean volunteering, work experience, or general experience of life for selecting the best fit for their organization.

What percentage of college graduates are underemployed?

Close to half of those who graduate from college with a bachelor’s degree can expect their first job to not require any degree, according to college graduates job statistics. 13. 33.8\% of all college graduates are underemployed.

Do community college graduates have a lower unemployment rate?

The unemployment rate for those with a bachelor’s degree or higher stays relatively low if we consider the fact that the unemployment rate has increased drastically because of the coronavirus pandemic. However, statistics about community college graduates indicate that people with less education can’t expect the same.

What are the disadvantages of unemployment after graduation?

While graduates want to have acceptable incomes based on return of investment, they sometimes face unemployment after graduation. Unemployment is detrimental to the individual because it leads to financial deficits based on college debts and educational expenses.

Why are graduates unemployed?

In sum, graduates are influenced by external market changes, as well as their own personal characteristics. One reason why graduates are unemployed is over-education in the labor market. From an economic perspective, being over-educated is exemplified in graduates who exceed the socially optimal level of education.