Some people say that there are fewer employment opportunities for graduates entering the job market and it might have serious implications for higher education. Let us look into this problem. On the one hand, education is good. And going to college is nice. But sending millions upon millions of our young people to college comes with a cost: a huge financial cost to the public that subsidizes those degrees, and a huge financial cost to the students themselves, in the form of student loans.
If the government wants to invest in public education, there are many more economical ways—free online classes, more funding for libraries—than funneling more students towards unnecessary bachelor’s degrees.
So it might be rational to cut these expenses and to close a few ineffective colleges. And then the degrees might become more valuable and it would be easier for postgraduates to find the job. By the way, educational programs of many colleges are outdated and they should be upgraded.
On the other hand, college degrees are highly valuable for the right students. There are students who develop critical-thinking skills that will last a lifetime and repay the cost of their degree many times over.
And it is obvious that the education is not all about getting a job. It is a way to develop your mind, to learn how to learn. My opinion is that we just have too many students and not enough jobs. Going to college is great, assuming you put your degree to use one way or another. Going to college just for fun, or just for the sake of reveling in the beauty of knowledge, is also great, but it is a luxury, and like any luxury, it goes only to those who can afford it. I’m sure that there is absolutely no shame in not going to college, if you want to do something in life that does not require a college degree.