Tuesday, June 7, 2016

So what will happen when Bernie makes College free?

Ignore for a moment that "free" certainly doesn't mean, you know, free.  South Korea has nearly 100% college enrollment.  What do they see?
A 2013 McKinsey study found that lifetime earnings for graduates of Korean private colleges were less than for workers with just a high-school diploma. The unemployment rate for new graduates has topped 30 percent.
Huh.  It's like the whole thing is some bizarre mix of Cargo Cult sociology along with a generous dose of "high paying jobs for Democrats".


R.K. Brumbelow said...

it makes sense. If a college degree is simply a commodity then 4 years of experience is likely more valuable than the commodity.

Kristophr said...

Colleges used to have standards. If you weren't better than the average HS grad. you either didn't get in, or failed after a year.

If everyone and his cousin has a degree for nothing and worth nothing, then 4 years being employed is more valuable.

I recommend this book, Worthless: http://amzn.to/215WHVC

If it ain't STEM or a voc-ed degree, don't go there.

R.K. Brumbelow said...

If you think STEM degrees have any use then you have not looked at the standards for STEM degrees lately. All they do is prep you for a master's degree which teaches you what a Bachelor's used to.

scipioamericanus said...

R.K. Brumbelow is right about the debasement of STEM degrees. My wife and I both found it difficult to break into our respective fields with only bachelors degrees because potential employers thought they were meaningless.

In what was a curse as much as a blessing, though, our school was one of the few that had maintained very high standards, with little grade inflation since as far back as the 1970s.

Our employers are thus continuously amazed when we demonstrate what should properly be considered fairly basic knowledge and skills for someone with an undergraduate degree in a hard science; things like basic statistical analysis of experimental results or familiarity with the general conceptual framework of our field.

Old NFO said...

It's now a check in the box, nothing more...