The Rate Of Unemployment Among The Graduates

Name: Professor’s Name: Course: Date: Is a College Degree Necessary? In 2008, former President Obama was quoted saying that he wanted to “provide funds for states to implement a broader range of assessments that can evaluate higher-order skills, including the students’ abilities to use technology, conduct research, engage in scientific investigation, solve problems, and present and defend their ideas.”President Obama and the first lady were known to be staunch believers in the idea that education is indeed the key to success. In almost all of her speeches, first lady Michelle never failed to mention how education is imperative to the steps the nation had, has, and will ever make. The truth is, education has indeed managed to propel economies forward and to ensure that countries are set for greatness. It has seen the world through timelines and held everything together when nothing seemed to work. Education has been at the center of the different breakthroughs the world has made and its importance cannot be more profound. However, in spite of its evident use and significance, the recent commoditization of education, especially, higher education has led many to question whether a college degree is necessary. Initially, a college degree was something fancy and one which students all over the world worked towards because it was mainly seen as integral to success and a better or good life after school. It was easy to buy into this hype because, well, the people who had college degrees were doing better in life and the society also highly esteemed them. However, today, life is different and having a college degree does not necessarily guarantee you a job nor a better life after school. While the value of education is obvious, looking at rates of unemployment around the world as the well as the amount of money one is asked to pay while in college, it is indeed worth asking whether a college degree is at all necessary and this is the basis of this article. The rate of Unemployment among the Graduates Let us face it, people in the world today consider employment as being directly proportional or indicative of an individual’s success. Students and parents are indeed interested in the return on investment of the bachelor’s degree. Therefore, the financial benefits of a college education are highly scrutinized today than ever before. In his July 10th, 2017 article, Jeff Selingo notes that “prospective students and their parents now study the financial benefits of higher education and the career outcomes of graduates of the campuses they’re considering as thoroughly as they scrutinize a college’s academic offerings, social life, and location.”Life after school has become an issue and parents are keen to send their children to places which seem to guarantee them a chance at securing a job after school. With the unemployment rates of graduates at an all-time high in a majority of countries, their concerns are indeed justified. Unemployment rates among the graduates is a statistic which potential college students are well aware of. While one would expect the situation to be different among the rich and developed nations, McCarthy (2015) provides his readers with a touch of the sad truth. Apparently, even the developed countries are grappling with the issue of increased unemployment among the graduates. Well, this is indeed a huge concern for college students as well as their parents who are keen on the return on investment in the bachelor’s degree they are dearly paying for. Looking at the diagram provided below, it is indeed a sad scene and one which goes a long way in justifying the question: is a college degree necessary. /sites/niallmccarthy/2015/10/13/which-countries-have-the-most-unemployed-graduates-infographic/#7ad7c4372c99 In an article by the African Center for Economic Transformation, apparently, there are no jobs for 50% of college graduates. This is indeed a huge number which is not only discouraging to the college students but also to the ones who are preparing to join colleges. While quoting Kelvin Balogun (President of Coca-Cola, Central, East and West Africa), the article notes that “almost half of the 10 million graduates churned out of the over 668 universities in Africa yearly do not get a job.”This is indeed a huge number and one which sends chills to any aspiring graduate. While some African countries are still grappling with the issues of incompetence among the graduates as well as poor education quality, this statistic is still appalling. With nearly 5 million graduates unemployed, one is left wondering whether it will be any different once they graduate. The universal expectation is that a college degree sets you apart and increases your chances of acquiring a job. As noted earlier, a majority of students and parents are keen on ensuring that they get a return on their investment. A college education is currently quite expensive, and not everyone is well set or financially endowed to pay for it. Some students take up jobs while in school, others are forced to call off their studies and resume them later as they go to look for money, while others are lucky enough to have parents who can pay for their fees. Regardless of where one is, it is indeed difficult and challenging to acquire a college education. Therefore, having one and lacking employment does feel like a waste of one’s time and money. People expect returns on anything and everything they engage themselves in. Currently, and coupled with the economic hurdles countries are experiencing, education is being looked at as an investment. Therefore, if there are no immediate returns, parents and students alike are left wondering whether it is worthwhile to invest in a degree which may or may not guarantee one a green future. Commoditization of Education Another issue which makes students question the value of education is the increased commoditization of higher education. According to the...