A college degree once all but guaranteed a well-paying job and higher earnings than high school graduates. But fewer of these good jobs are now available thanks to the long-term economic changes and the effects of the last recession.
People with college and advanced degrees are working jobs that don’t require them, whether by choice or necessity. That in turn pushes people without college degrees out of those jobs.
The number of college graduates has grown much faster than the number of jobs that require high-level education skills. As more college graduates flood the market, supply outweighs demand and employers are able to offer lower wages.
Because college is so expensive, many students are facing a dilemma: If they go to college, they still might not get a job that requires a college degree, and they’ll be on the hook for big student loan payments. But if they don’t go to college, they might be pushed out of entry-level jobs by overqualified college graduates who can’t find other work.
Under the current economic climate high school graduates should not only be asking themselves if they can afford to go to college but also if they can afford not to?
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