The Evolution of College - Has the Time Come?

LOS ANGELES - April 17, 2022 - PRLog -- The Impact of Covid
In the spring of 2020, most colleges were forced to pivot their operations entirely online due to a deadly pandemic.

Imagine being a parent having paid for tuition when Covid hit. Your son or daughter is now sitting in front of their computer. And you are panicked about the consequences for their education and future. Perhaps you are wondering why you are spending lots of money on a 'virtual education'.

Is College Worth It?
There are around 20 million college students in the United States, and over 44 million borrowers owe a collective $1.5 trillion in total student debt.

The argument is that college graduates have higher employment rates, bigger salaries, and more work benefits than high school graduates.

Counter argument? College is not worth it and the debt from college loans is too high and delays graduates from saving for retirement, buying a house, or getting married.

About 44 million Americans owe more than $1.5 trillion in student debt. 45% of people with student loan debt say college was not worth it.  10% of students graduate with over $40,000 in debt and about 1% have $100,000 in debt.  In Feb. 2018, undergraduate college graduates had an average of $37,172 in loan debt. According to the US Congress Joint Economic Committee, approximately 60% of college graduates have student loan debt balances equal to 60% of their annual income.  Missing late loan payments leads to lower credit scores and additional fees, worsening the debt problem.

The unemployment rate for recent college graduates (4.0%) exceeded the average for all workers, including those without a degree (3.6%) in 2019. The underemployment rate was 34% for all college graduates and 41.1% for recent grads. The underemployment (insufficient work) rate for college graduates in 2015 was 6.2% overall.

Life Without A Degree?
According to the Bureau of Labor Statistics, of the 30 projected fastest-growing jobs between 2010 and 2020, five do not require a high school diploma, nine require a high school diploma, four require an associate's degree, and six require a bachelor's degree.

The following successful people either never enrolled in college or never completed their college degrees:

Richard Branson, founder, and chairman of the Virgin Group;
Charles Culpepper, owner, and CEO of Coca Cola;
Ellen Degeneres, comedian, and actress;
Michael Dell, founder of Dell, Inc.;
Walt Disney, Disney Corporation founder;
Bill Gates, Microsoft founder;
Steve Jobs, co-founder of Apple;
Wolfgang Puck, chef, and restauranteur;
Steve Wozniak, co-founder of Apple;
Mark Zuckerberg, founder of Facebook.

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