Funny about Money
Funny about Money
Are college degrees overrated?
On Monday, NPR’s Talk of the Nation chatted with career coach Marty Nemko, who recently published an article in the Chronicle of Higher Education arguing that the bachelor’s degree is one of America’s most oversold products. He stops short of calling the marketing of undergraduate degrees to those who are unqualified for university work a scam. But after twenty years in academe, I surely would go that far.
Nemko points to the vast numbers of college graduates who end up in jobs they could have had with a high-school diploma, and then goes on to cite figures showing that only 23 percent of high-school students who take the ACT are prepared to perform at the college level in English, math, reading, and science. That just about accords with my experience. As I’ve explained in earlier posts, I organize students into groups, each of which is led by a classmate who, in the absence of grade inflation, would genuinely be an A student. Any given class of thirty students will have at most six who really do perform at the A level: that’s 20 percent. The rest are folks who tell me that Wisconsin is a Rocky Mountain state and World War I occurred in the nineteenth century, and who turn in papers with their own names misspelled.
According to Nemko, of the four-year college students who graduated in the bottom 40 percent of their high-school classes, two thirds had not managed to finish the bachelor’s degree after eight and a half years! Meanwhile, however, universities merrily collect these kids’ tuition, running them deeper and deeper into debt as the young people continue a fruitless pursuit.
And fruitless, he suggests, is le mot juste. The claim that workers with college degrees earn more over their lifetimes is, he says, “misleading”:
You could lock the collegebound in a closet for four years, and they'd still go on to earn more than the pool of non-collegebound—they're brighter, more motivated, and have better family connections.
While that is not 100 percent so—thank goodness, we still do have some social and economic mobility in this country—the truth is that class matters. Students who do well in school often are those whose parents were well educated and have provided their kids with a fistful of educational, social, and economic advantages. Not least of those is Dad’s old college chums now in a position to hire Junior. The uphill climb for a first-generation college student is a lot steeper than it is for a kid whose parents have graduate or professional degrees.
He adds that as increasing numbers of decently paying jobs are sent off-shore or converted to part-time, the pool of good opportunities drops. So, many college graduates are forced to take blue-collar work, driving trucks and waiting tables.
Then there’s the question of whether college students get what they pay for. It’s a big question, since many university graduates start their working lives with five- and six-figure student loan debt. Graduates surveyed in recent studies are understandably dissatisfied with the quality of instruction in environments where an average of 28 percent of their courses are taught in classes of thirty or fewer.
But did they learn anything?
Apparently not much. A 2006 study underwritten by the Pew Charitable Trust showed that 50 percent of tested college seniors could not follow the argument in a newspaper editorial or compare credit-card offers. Folks. That’s half of them! Twenty percent had such weak math skills that they could not estimate whether their car had enough fuel to get to the gas station.
Think it can’t get worse? Think again, says Nemko:
Unbelievably, according to the Spellings Report, which was released in 2006 by a federal commission that examined the future of American higher education, things are getting even worse: "Over the past decade, literacy among college graduates has actually declined. . . . According to the most recent National Assessment of Adult Literacy, for instance, the percentage of college graduates deemed proficient in prose literacy has actually declined from 40 to 31 percent in the past decade. . . . Employers report repeatedly that many new graduates they hire are not prepared to work, lacking the critical thinking, writing and problem-solving skills needed in today's workplaces."
What to do?
Nemko suggests that colleges should be held to the same standards as, say, tire manufacturers: at the least, they should be required to provide applicants full data on their performance in areas such as graduation rates; average costs for every year, broken out by race and gender; and employment data for graduates. He also suggests that a high-school graduate in the bottom half of his or her class consider more profitable alternatives, such as associate-degree programs at community colleges, apprenticeships, the military, and on-the-job training with a successful small-business owner.
The national campaign to enroll every body that’s still breathing in four-year bachelor’s degree programs is a rip-off. It rips off the young men and women who are unprepared to succeed in universities, and it rips off the ones who are prepared, by siphoning resources away from them. Not everyone needs a four-year degree. In fact, some people are likely to find more success by using those four years in vocational training and on-the-job learning.
Related posts:
Bombs Away: Academic Trench Warfare, Continued
How We Teach Our Children to Cheat, Lie, and Steal
Should College Students Have to Study Personal Finance?
The State of American Education: A Student’s Viewpoint and What It Has to Do with Personal Finance
categories: education in America
Wednesday, May 14, 2008