This education cost is a big election issue. Sorry for my long post...
Here are some USA facts: Most suburban high school students graduate with a background in college preparatory courses. More than 2/3 of graduating HS students apply for and are accepted into a college/university institution. The same cannot be said for the inner city students where their public education does not prepare them owing to other systemic problems outside this particular discussion.
According to
CollegeData, "the College Board reports that a moderate college budget for an in-state public college for the 2017-2018 academic year averaged $25,290. A moderate budget at a private college averaged $50,900." Remember - average...
Translate that into graduates from the university and whether or not they get jobs that support the cost - do they? The American dream of tertiary learning leading to better paying jobs is falling apart fast. There are so many who have degrees and education that they exceed the number of positions available.
My point? Encouraging even more to join this path of higher education will not lead to more jobs. In a service economy, which I contend the USA has become, where few goods are being produced, where does one go to use these advanced skills?
At the end of WWII, a push was made to educate more Americans. My parents were factory workers, uneducated, basically unskilled. They were not stupid people. They just grew up in a time when a college education was only for the most elite of society. In part the GI Bill for the returning boys - and yes it was predominantly for men only - lit off a push into the universities for many who could never have considered such. That push prompted a huge growth in the universities and colleges that continued into the 80's and 90's, perhaps even up to today.
I am the first and only in my family of 4 siblings to earn a Bachelor's Degree. In my case, I paid my way all on my own. I could not afford the finest schools of engineering so I took advantage of living at home and commuting to my college. I ran out of money at 2 years completed. I refused to put myself in debt. I took my Associates Degree in Electronics Technology and went to work. I finished my degree at nights as I could afford it. 8 years later, I had my sheepskin.
Today, parents fund most university students or the students family goes into debt to purchase the education for their child. I have 3 children. Allow me to tell my story:
My oldest worked hard in High School and she received a full scholarship to her university where she trained to teach music. Her living expense cost me over $40k for 4 years. It took 5 for her to complete. I said I would only help for 4 years. She had to pay the 5th year by borrowing. She left university, graduating with honors, with about $30k debt. She is employed now as a Cyber School administrator - the pay is at level at which she can live. Teaching did not pay at a living level for her owing to the glut of music teachers.
Daughter #2 was not a great student in High School. She was an athlete so she did receive some help to play softball for her university. She left university, graduating with a high GPA as an Athletic Trainer, $90k in debt. Dad covered $40k more. She immediately had a job as a trainer for a local high school on a salary that barely allowed her to have her own place to live. 9 years later with a 1% increase in her pay over that 9 years, she decided to move in a new direction and pursue a different career. She is just beginning to work as a Minister - a preacher woman! Her plan is to go active Navy as a Navy Chaplain once she completes the 2 years of service required by the Navy to qualify. The Navy will pay her well for her service.
My son went to university with low grades and while he did well there, his choice of study has little application in the world to make a living. Graduating $120K in debt despite pop providing $40k for his education, he still is burdened with much of that large debt. He has a good job with a software company as a Customer Service rep. He is on the phone all day assisting customers with the software his company sells.
Mom and pop continue to help 2 of the 3 to get their debt paid.
I hope my children make my point: there is a lack of good paying jobs for those who do get educated. I seem to recall reading somewhere that between 30 and 40% of those graduating from universities never work a day in the course of study they chose owing to the lack of jobs. And then those that do get jobs, are paid at such low salaries that they are barely making it. How do they pay for the education? Their debt is choking their ability to live.
There will be those that say to me if they went into business or science or computers .. there are plenty of jobs. I know this to be true. If all went into those skill areas, would there be?
Students have to choose courses of study in which industry is interested. The universities do not guide them in such choices.. Seems the universities now want to thrive, building bigger and better campuses, drawing more students, charging more tuition, all so that the university rises in prestige attracting better and higher level educators. Seems to me it has become big business with big salaries... Most are non-profits so all the money has to be used...
When students cannot find remuneration beyond basic levels and cannot obtain the niceties they have been used to in mom and pop's house, this education is going to collapse if something is not changed. Of course the change desired by the university is "free" tuition paid for by the American tax payer. Ergo - they get to continue their growth and big budgets with big salaries. Think through what the result may ultimately be: a highly educated unemployed population who the tax payer will also have to support. There are simply not enough good paying positions for all those we are now educating. If "free" tuition is applied, so more may attend, where will the jobs be created to receive these?
Ladies and gentlemen, there are no simple answers to the problems we face. I believe the system we have now permits those who wish to go to university the means to do so. Universities have financial systems to allow those who want to go the opportunity to go. When they make the choice to go, they must understand the cost to them to do so. Not only must they achieve the grades but they also must pay the cost. The government loans make it possible for any to go. The capitalist system keeps supply and demand in check. Eventually parents are going to figure out that sending Johnny to university may not be the best choice for Johnny. Maybe a trade is a better choice.
To close, I have a nephew who hated school and did not want any part of a university degree. Instead he went to work as an apprentice plumber. Today, he and his wife run a plumbing business with two trucks and two fully licensed plumbers. They work hard but they are being very successful with their business.
Choices... that is what government should continue to provide all - the opportunity to freely exercise their choice. Tertiary education for all? No. While the system we have now is flawed, it will balance itself back out and we do not need government getting further involved. This should be an election issue for the government should not make the taxpayer pay more for the support of the tertiary education system. We taxpayers are already backing all the loans. We are paying universities to do studies that employ students doing work with the professors. (Frankly many of those studies are totally ridiculous endeavors but lets not move on to that subject!) We do not need to do more.