Overselling College?

As I wrote here last week, newly compiled data shows that a great many college graduates have been settling into jobs that do not require higher education. The data, prepared and released by the Center for College Affordability and Productivity (CCAP), show that a majority of the increased number of college grads since 1992—some 60 percent– are “underemployed” or “overqualified” for the jobs they hold. Thus we have one-third of a million waiters and waitresses with college degrees. Some 17 percent of the nation’s bellhops and porters are college graduates.
. . .

SDSU Building
Creative Commons License photo credit: Keo 101

We send kids to school for 17-18 years to prepare for a job, say restaurant manager, that a generation ago would have involved 12-13 years of schooling. We are doing less with more. Putting resources into higher education crowds out spending on worthwhile things, like new machinery for businesses or even folks buying new electronic gadgets.

What Happens When College Is Oversold,” by Richard Vedder, Minding the Campus, December 16, 2010

And now, a view from the trenches:

Oh yes, federal loans. I’ve got $40,000 of those, which are in “forebearance” right now because I’m unemployed, meaning that the feds are paying the interest for a while, which is convenient for me, but not for our government which is now owned by China. You know, the idea behind federal loans was that it would allow more students to attend your university, not let you INFLATE your tuition to obscene levels! I mean, what the fuck were you spending the $16,000 per semester on, anyway? I was in a public policy program, so that meant we got to sit in classrooms and listen to Professor God up at the front of the lecture hall glorify Himself and Creation as He saw it and talk about how much smarter he was than anyone else and how much he’d learned at MIT and the RAND Corporation.

Dear University Alumni Office,” by Alumnus, Craigslist Seattle, February 26, 2010






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