Thursday, December 23, 2010

We Are Over-educated

I've come to the conclusion a few years back that way too many people are going to college. Sure, some jobs require advanced training, but the traditional college degree seems like about the least effective way to get trained to do a job. And many college degrees are about worthless in terms of getting a real world job. We are wasting so much money and early life productivity with so many students wasting 2-6 years borrowing money instead of making money. If they were able to start saving 10 years earlier (5 years of college + 5 years to pay off college debts) and use the magic of compound interest over time, and add 5 more earning years, there's a good chance they could come out ahead. I've seen statistics that only somewhere around 30% of the jobs really require a college degree while well over half of high school graduates at least start college, and that something like 60% of college graduates currently work in jobs unrelated to their college degree.

Anyway, I saw this article which confirmed everything I have been thinking. Please read it and tell me whether you think higher education system and the messages we tell our young adults need changed or not.