November 3, 2010

Underemployed College Grads: There are LOTS of Them

It's been a long time since most people went to college solely for the purpose of expanding their minds. In recent years, it's been all about getting that degree so you can get a good job. Colleges and universities didn't disagree with this view; in fact, many emphasized it by bragging on each graduating class's employment rate.

But the stakes are higher now: students graduate with tens of thousands of dollars of debt, and they expect a way to pay it back so they can get on with their lives----and with earning a decent living.

That's why this article in The Chronicle of Higher Education, "Why Did 17 Million Students Go To College?" is so striking. The author points out that, according to the Bureau of Labor Statistics, there are 17 million college grads employed in jobs that don't require a college degree. Hmm, how are they going to pay back all that student debt on a lower salary than they'd planned to earn?

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