There is a fundamental flaw in the way we think about higher education. Our culture’s value system on college and college degrees has gone awry. Or quite simply, it may have always been this way. However, as a college student myself, the problem has become clearer and clearer the more I discuss higher education with people. I am unsure about the root of the problem, although I have my suspicions, but I do have a pretty clear understanding on what needs to be done to fix the thought process behind the inflated value of a college degree.
I was recently reading a Dave Ramsey book and one of the chapters is centered on college education and funding that education. In reference to a college degree Ramsey states, “We have asked that it do things it cannot do.” These few pages got me thinking, what is the true value of a college degree and how does our society generally view college degrees? It doesn't take a lot of research to realize that college degrees have been devalued. The reason behind this is quite simple: the market is saturated with people who posses a college degree. I decided to do a little research myself and came across a TIME magazine article from 2009. The author, Kristi Oloffson, stated that “In 1973, a bachelor's degree was more of a rarity, since just 47% of high school graduates went on to college. By October 2008, that number had risen to nearly 70%.” More and more people are attending college these days and with this increase in supply, demand has dropped.
With this being said, it's also getting more and more expensive to go to college. According to this article from USNews, “In-state tuition and fees at public National Universities grew the most, increasing a staggering 296 percent.” Basic economics will tell you that something that has increased in price but decreased in value may be worth taking a second look at.
This article isn't a scathing attempt at convincing people that college isn't worth it. In fact, I am a college student myself. What this article is meant to do is bring awareness to the fact that our society has placed a false emphasis on the value of higher education. A college degree is worth it; having that educational foundation as a young adult is a great start to your professional life. However, some of the emphasis that is currently placed on higher education by our society's value system needs to be placed on less quantifiable skills. These are skills such as communication, time-management and leadership. People have created this illusion that a college degree will make up for any shortcomings in their people skills. This is simply not true. Bill Gates himself has even advocated for employers to focus on a more skills-based hiring model. According to this article from CNN money, “Even STEM (science, technology, engineering and mathematics) majors often need to acquire communications, management and other skill sets that they may not learn in college.” Employers have been continuously adapting, the saturation of college degrees in the market has forced them to look at the skill sets that people can bring to the table.
This is a PSA to all high school students, current college students or established professionals looking to enhance their career: Learn or sharpen your people skills, communication skills and managerial skills. These skills combined with a solid educational background are more likely to result in success then just a college degree. As a society we need to stop being so simple minded. Collectively, we need to enhance our understanding of the value of a college degree and be smart enough to adapt.
