And as more people go to college, some experts say the value of a bachelor's degree has faded. A decade after leaving school, more than 1 in 5 college graduates are working in a job that doesn't even require a degree. It's unsurprising then that remorse is a common feeling among graduates: More than half wish they'd studied something different or attended a different institution, according to recent survey findings from Gallup.
The path forward is unclear, and will most likely require structural and legislative changes. Still, in interviews with education, policy and savings experts as well as current and former students, a more hopeful scene emerges, one in which the strategies to remedy the problems are ample and growing. All over social media his friends posted pictures of their dorm rooms and leafy campuses. He had chosen to do an apprenticeship, an option that is gaining popularity across the country. Proponents say the on-the job-training programs reduce people's student debt while making sure they pick up in-demand skills.
President Donald Trump signed an executive order in that doubled the money the government spends on apprenticeships. As part of the apprenticeship, he also took classes at Trident Community College. The experience allowed him to save a few thousand dollars for college and eventually attend Clemson University, with scholarships, where he now studies mechanical engineering. In her sit-down conversations with high school students, Eleni Papadakis , executive director of the Workforce Training and Education Coordinating Board in Washington state, said people tend to overestimate how easy it is to repay student loans.
She then shows them a cost-of-living calculator in their state, so they can see how quickly their paychecks will be eaten up by expenses like child care and taxes. If students describe frustration with the classroom or concerns about falling into debt, she'll recommend they consider an apprenticeship.
No longer are apprenticeships limited to blue-collar professions like manufacturing or plumbing. IBM is rapidly expanding its apprenticeship program , for example. This year the company hopes to hire apprentices, up from last year. Successful candidates a degree is not necessary to apply are trained for 12 months in fields including data science and cybersecurity. And those who complete the program stand a good chance of being hired there.
In return, they will pay 2. Proponents say the agreements protect students from some of the pitfalls of debt, including the accumulation of interest. And in many income-sharing agreements, students are not required to pay anything back if their income falls below a certain threshold. Still, the option remains relatively uncommon, and it has drawn concern from some consumer advocates.
In-state public colleges usually cost a third to a quarter of the cost of a private college, he said. Community colleges are increasingly being touted as a resource for students looking to reduce the costs of higher education as well as rack up workforce education experience, said Martha Parham , senior vice president of public relations at the American Association of Community Colleges.
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And opportunities for people with an associate's degree are growing quickly, according to recent research from Georgetown University's Center on Education and the Workforce. The number of "good jobs" for associate degree holders has swelled by more than 80 percent between and Keep in mind that some of the best, private institutions, Nassirian said, "may well be the most affordable.
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Nearly 20 percent of children under age 18 have plans, the education investment funds, compared with less than 4 percent in , according to SavingForCollege. Studies show that children who have the accounts are more likely to attend college. And if you start to contribute to a plan at your son or daughter's birth, about a third of your savings goal could come from investment earnings alone, according to calculations by Kantrowitz. A number of companies are encouraging workers to financially prepare for their children's' college by allowing them to save in a plan through payroll deductions, and some even offer a matching contribution.
Some 1, businesses in California now offer their employees a savings plan option, said Julio Martinez, executive director of the ScholarShare Investment Board in the state. Around 8 percent of undergraduate students had a scholarship in the academic year, up from 3 percent in There's a great list of ways to find the awards on the SavingForCollege. When it comes to borrowing, students shouldn't take out more than they expect to earn in their first year of employment, Kantrowitz said.
The Georgetown University Center on Education and the Workforce has a pretty thorough breakdown of salaries by major. As early as possible, students should understand the labor market they hope to enter, said Jeff Strohl , director of research at the Georgetown University Center on Education and the Workforce. Where are the ones that are happy? Is there anyone whom I can talk to?
He recommends a tool called My Next Move , which allows students to look at the opportunities in different locations across the country. He said students should be prepared for their job plans to go awry. History majors, for example, could think about how their skills apply to work in politics or research, not just academia. Meanwhile, graduates have some negative expectations under the pressure of seeking jobs. Obviously, these of problems will bring more risks for employers as well. Another widespread criticism is that, since the acceleration of enrollment starting from , many schools, which were originally vocational ones, have been turned into universities.
This has resulted in the number of university increasing greatly, which also means an increase in graduates with university degrees. But the truth is that the quality of these students' education is often even lower than vocational school graduates. The reason is that vocational school graduates have technical abilities which university graduates often lack. It's quite common that universities often put more emphasis on academic research rather than teaching practical skills required for jobs, which employers often value.
What is more, some employers only pay attention to graduates from prestigious universities, which result in the decrease of competences of normal college graduates. In order to solve this, it is said that the Chinese government is considering restoring these so-called Sanben universities to what they originally were.
Graduate unemployment will be more likely to promote postgraduate school education. Half of graduates would like to consider attending postgraduate schools to enhance their ability to seek expert jobs. Government interventions are designed to alleviate graduate unemployment by encouraging young job seekers to "Go west, go down to where motherland and people are in greatest need. In , the Communist Youth League recruited over 50, graduates to provide volunteer service in education, health care, agriculture, and cultural development in western provinces.
As well as receiving a stipend, a State Council circular issued in promised the graduate volunteers preferential policies in civil service tests and graduate school entrance exams. Moreover, graduates had an opportunity to be self-employed as the Chinese government launched policies which were formulated to encourage college graduates to carve out their own future.
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A study in from the Higher Education Careers Service Unit has found a wide range, six months after acquiring their first degree, in the proportion of graduates who are either in full-time employment or studying for an advanced degree. There is also a wide range in the proportion of these graduates who are employed in occupations such as cashier or waiter.
The following table shows selected data from this study. There is a clear North-South differential in Europe with respect to transition and objective employment measures, while the pattern is more differentiated with respect to the perceived utilisation of knowledge, the self-rated adequacy of position and the job satisfaction. From Wikipedia, the free encyclopedia. The China Quarterly. Current Issues in Economics and Finance. Retrieved 28 July Chronicle of Higher Education.
Retrieved 8 March Retrieved Ottawa: Parliamentary Budget Office. Statistics Canada. Retrieved 12 December Inquiry Report Canberra: Productivity Commission.
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Retrieved August 10, University World News. BBC News. Retrieved 7 March Association of Graduate Careers Advisory Services. October Retrieved 1 November Retrieved 21 October Blue-collar Green-collar Grey-collar Pink-collar White-collar. Affirmative action Equal pay for women Gender pay gap Glass ceiling. Corporate abuse Accounting scandals Corporate behaviour Corporate crime Control fraud Corporate scandals Discrimination Dress code Employee handbook Employee monitoring Evaluation Labour law Sexual harassment Sleeping while on duty Wage theft Whistleblower Workplace bullying Workplace harassment Workplace incivility.
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