Posted on by Californiacontrarian

Now Batting . . .

My wife’s father told her that she needed to have a major in college that would lead to a job at graduation. In those days the cost of college, while not cheap, was not something that was an undue burden on families. Today, however, American families have taken on more than $1.3 trillion in student loan debt, and in 2016 the average college graduate (by a conservative estimate) is $30,000 in debt. In one respect this debt might be worth it if there was a guarantee of future payoffs, but the New York Federal Reserve Bank says that about 40% of recent college graduates are “underemployed”, often for a long time. Even more disturbing is that in 2010 more than 15% of college graduates were taxi drivers! Now I have nothing against taxi drivers, but driving a taxi in order to try to pay off a student loan?!

Strike one!

 

What is wrong with this picture?

Are too many college students getting “useless” degrees?

Are we sending too many kids to college?

The answer is “Yes!” and “Yes!”

 

Obviously the payoff benefit from a college degree is going to depend on the what the degree is in, as electrical engineers will earn significantly more than psychology majors. However some degrees seem to be very close to the precipice of “totally useless-I need to get a job as a bartender” degrees. Would someone please tell me the marketability of a degree in Gender-Studies or Anthropology. . . other than teaching future students Gender-Studies or Anthropology?

Strike two!

 

However, the real losers however are those individuals who start, but do not finish college, as they do not have a degree, but they still have to payoff the loans. A recently released study by National Student Clearinghouse Research Center found that of those first-year college students in 2015 only 61% returned to the same school and only 73% returned to any school in 2016. Remember that those who do not return to school are still responsible for paying off what they have borrowed.

Why do they not return? While there are many reasons I surmise that most were ill prepared for college in the first place, and perhaps were encouraged to go to college by well meaning advisors, friends, or family members.

Strike three!

 

Why did they not opt to learn a trade before wasting a year in college and incurring debt? As Marco Rubio has said, “We need more plumbers, and less philosophers.”

It is predicted that there will be a shortage of skilled tradesmen in the next 10 years. At present there are about 13 million Americans enrolled in four year colleges, while only 0.5 million apprentices in training to become skilled tradesmen. According to The Federalist there are millions of unfulfilled jobs for skilled workers across the country at a time that labor participation rates are hovering at a four decade low.

Barack Obama was trying to facilitate sending more people to college, and the only thing he was successful at was piling-up student debt and ensuring an over supply of taxi drivers and baristas. Luckily B.O. is out!

Now batting . . . Donald Trump!

 

Mr. Trump is a good pinch hitter with a much better appreciation for the game. He will aggressively swing the bat and has an experienced knowledge of the strike zone in the Major League of real business – unlike his predecessor who looked like he was playing whiffle-ball.

President Trump thinks that the answer to helping these unemployed or underemployed youth is to make it easier for them to go into vocational trades.

Fulfilling another campaign promise on 6/15/17 President Trump signed an executive order to encourage more apprenticeship programs for workers.

He was quoted by the Washington Examiner as saying, “We will be removing federal restrictions that have prevented many different industries from creating apprenticeship programs.”

Those knowledgeable fans are already cheering – anticipating a Home Run!

 

 

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