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I think everyone should do SOMETHING beyond high school be that a 4 year college, 2 year program, vo-tech, military, however, not everyone will be capable of doing even that. As for cashiers and whatnot at Walmart, traditionally those have been jobs for stay at home parents, high school kids, etc. I see no shortage of those any time soon. Even with a college degree there are going to be high achievers and low achievers and the high achievers will continue to fill the jobs that require their skill set and the low achievers will continue to fill the spots that fit their skill set. Pay will also draw some people to jobs beneath their education. The window manufacturing plant not far from our house is a good example, starting pay is pretty good for line workers and with production bonus money and profit sharing money most years these factory workers are making $100,000.
In the long run I see NO negatives to living in a highly educated population.
Student loans are granted at 4.5%, inflation is running about 3%, take out expenses to manage the student loans and factor in the default rate and the program is making enough to sustain itself at best. When you get into the private loan department the default rate on those loans is pretty high too that I would say that it is NOT very profitable at all.
What will happen? Well, more people will go into debt paying for a college degree that does not mean what it used to. Then those people will get jobs that may or may not pay enough to pay for all of their living expenses (because after all, society tells us that if you have a college degree, you should live in an upscale neighborhood and drive an upscale car!). They will get married and buy into the myth that every family needs two wage-earners, and besides, why waste your degree staying home raising babies? Those babies will begin "school" (aka daycare) at 6 weeks of age, and will begin hearing about how important it is to go to college. Meanwhile, their parents will continue working their tails off in jobs that they might not even like (probably some will be Walmart cashiers, due to a greater supply of qualified workers than there is a demand), but at least they're doing their duties as part of the working machine! This will enable them to spend more money and pay more taxes to the government. They may or may not be able to retire at the age of 65, but don't worry... the next generation will be right behind of them, working and buying.
We are going to see many dumbed down degrees. We are seeing it now. I remember when I went to college, there were some classes where you barely had to show up and you could still get an "A." This isn't a good thing for making a person competitive in the job market. Employers want SKILLS and not someone who could get an A in an earth science class by reading a book. In other words, you are going to see college-educated waitresses and cashiers.
We need to be giving kids options and not telling them that college is the only way to success. Only about 50% of all children are cut out for college. We should not be forcing a kid into college who isn't cut out for it.
I think many people would spit their coffee out if they knew how many blue collar workers are making well in excess of six figures. We're not even talking 10+ years in the trade, unreal hours, or private contractors.
The normal curve prevents everyone going to college, because everyone cannot handle the work load or the intellectual preparation. To give everyone a college degree means that college will have to be dumbed down even more than it is now.
There was a time when no one without an IQ of at least 135 went to college(this was before there were IQ tests). Then it got dumbed down and people with 120's could go. Now its down to about 105 or less. Now we no longer have highly intelligent doctors working on us because the medical schools have dumbed down to any 110 who has a good memory.
In a word: mediocrity.
This is a very good point and brings up another issue. With more and more people getting college degrees, it is increasingly important WHERE you went, not only that you went. When trying to accommodate students that shouldn't be there universities have to lower their standards to cater to the lowest ability, which will hurt the reputation and value of the credentials. The name on your diploma will matter even more when we have to question the quality of one's education, even at the collegiate level. There will come a time, and it's happening already, where employers will have to say "We're sorry but a degree from Eastern State U just isn't good enough anymore." Employers will know which schools give out A's just for showing up, and they won't hire anyone from that school.
The great schools will remain great, they won't have to compromise their standards because they have always chosen the most talented students, and they will be the ones getting the jobs. They may not be great jobs but at least they will have a better chance at something. Things like name, prestige, connections and alumni assistance will be the key as the door becomes harder to open. We just can't have an entire population that is on the same educational level, we need stratification for things to work here. If we wanted socialism then we would have it, but we've said "no" time and again to that, which means that inevitably a lot of people are going to end up on the bottom. If we raise where the bottom is it just means that there will be a lot of people walking around who know things but still can't support themselves. Not sure that will do anyone any good.
I do not know where people got this idea that only uneducated people work at Walmart. I was at Walmart not long ago. The cashier and I were talking she tells me in a low voice we have lots of college educated people here. I have had buddies who had degrees in all types of things who have worked at Walmart. It is called underemployment and it is super common. I have had a electrical enginner sell me paint at Lowes. He was maybe 50 he said I will have to work till I am 70 this was 2005. White collar jobs are being sent overseas at a super fast pace engineering jobs HR jobs IT jobs you name it. We are pumping out too many college grads. There is no way enough jobs for these kids. And now they have lots of debt. You do not need an MA to tend bar. That is what I told a buddy when we were in a grad program. And this is where alot of kids are heading.
Although more people are GOING to college, the number of 4 year degree holders is semi-stagnant. You have more associates and HS, but bachelors are stagnant compared to the number entering. A good number just quit in the middle because they find it's not for them. I see the rate of 4 year degrees inching up a couple percentage points at most over time, but I don't see a future where BA/BS degrees are as normal as HS diploma rates (about 85% of the country, vs roughly 27% for bachelors degrees now; in 2000 it was 25%), and much of that is related to cost. When getting a high school diploma, you can afford to **** up; it's free to attend! College, not so much. Even in Europe where the gov pays a large portion of college expenses and college tuition is much lower, they have lower rates of 4 year degrees on average than we do (they also do vocational training in many countries along w/ high school training so there is probably less of a NEED to go in their minds). The colleges are reserved for the academics and those who need higher education for their jobs (doctors and such).
The country is going down the toilet because of this equality stuff. I think Obama would shout from the rooftops for the rest of his life (if he could), "Equality for all! Equality for all!"
But that equality is dumbed down equality. Instead of having 1 135 IQ college degree holder, and 4 people 110 IQ (highschool educated). Now we have 5 college degree holders with 110 IQ. Maybe 108, or 102.
-Quality is lost handing out things to everyone.
Countries that don't have this equality for all, with almost a religious conviction, they're going to run circles around us. They already have. I read a story the other day, China is the #2 economy in the world.
-If they have 140 IQ college educated engineers, and we have 115, who's going to win in the long run?
-Watering down degrees isn't the same as creating growth in the economy.
It's basically a stopgate measure. It doesn't address the real issue. When education starting caring about feelings, more that education, it failed. When they care about little Johnny in the back, crying because he doesn't have a degree, and taking time away from Stevie (125 IQ, looking promising), it's failed. Miserably.
It's like homeownership. Look at that disaster in the last 10-15 years. Use to be back in the old days, only some people were homeowners, some were renters. Depending on their personal financial situation. But then *somebody*, some moron politician, who couldn't think up anything else, decided....
"What if we promise everyone homeownership! What if everyone could afford a home." That might get me elected!
And because of our dumbed down k-12 education, we don't produce an educated and enlightened citizenry. We vote in these morons. That's how you get "Subprime". There was no "Subprime" lending in the 50's or 70's (like today). Because you had to have a 20% downpayment with a home, and your mortgage payment had to be a certain percent of your income. And it was ok to be a homeowner or renter.
The unintended consequences of this "equality for all", is that everyone has to pick up the pieces (when and if) things go bad. An undue risk is created, that wasn't there by normal market forces.
-The trend is terrible for this college degree thing, handing them out like candy. Eventually there is going to be a major titled "Handing out college degrees". That might be one of the growth majors in the next 5-10 years, if things keep going the way they are. They're turning education in Halloween, where every kid gets to knock on a door and ask for a treat.
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