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All agency action can be classified in three categories: quasi-adjudication: order making, judicial quasi-legislation: rulemaking executive
Posted On: Nov. 1, 2017
Author: Shipra

Higher Education Page 1 “Running Head” Higher Education Title: Is A College Degree Worth The Effort Today? Author/Name of the Student: Name of the School/Organization: Higher Education Page 2 ABSTRACT This paper aims at discussing the relevance of higher education and the importance of college degree in today’s recession hit times where jobs are hard to come by even for the most deserving of candidates. It will also try to figure out the reasons why large numbers of youngsters are showing disinterest in getting a college degree for themselves. A college degree is still as useful and as important provided it is obtained from a creditable college/university and in a worthy course. One of the most unfortunate facts about Modern America is our gullibility. We are ready to believe “n” amounts of preposterous statements, provided they suit our shiny prejudices. One such misconception which everyone openly believes is that a college degree is the most useful investment one can ever make in their lifetime for their careers. But considering the case of Tina Thompson who was in news recently, we are forced to believe otherwise. Tina Thompson, a 27 year old graduate from Bronx’s Monroe College has decided to sue her college and seek a refund for the thousands of dollars she spent as her tuition fee in the college. She is seeking a refund as she failed to find a job post her graduation. She also claimed her alma mater’s inability to live up to the end of its bargain and find her a suitable job, despite the fact that she performed really well in her course. Monroe College, like many others in the country assured placements to its students after their courses. However, the case of Tina Thompson is yet another sad example at the poignant state of thousands of graduates Higher Education Page 3 who spent millions of dollars for their higher studies only to be rejected in innumerable job interviews. There can be no two opinions about the fact that getting a college degree in America is no easy task. Most of the students in America fund their college degrees by opting for student loans or using up all the savings their parents can offer them. Sitting at home, unemployed, with thousands of dollars in debt as unpaid student loans, this is definitely the most depressing situation most of the jobless graduates in America are facing today. It is understood that not every child is lucky, intelligent or rich enough to get into the Ivy League. Most of them seek other options available in colleges which may provide them with a college diploma/degree and thus, the assurance of a promising career. However, with rapid loss of jobs, deflating economy and the world wide recession, many educationists are of the opinion that higher education could very well be the next bubble to burst. They believe that it is an over hyped phenomenon which has failed to produced constructive outputs. Here is an excerpt from an article which was published regarding this issue by Joseph Marr Cronin who is the former Massachusetts secretary of educational affairs, and Howard E. Horton who is the president of New England College of Business and Finance. Joseph Marr Cronin and Howard E. Horton, The Chronicle of Higher Education, 22 May 2009 — Excerpt: “Is it possible that higher education might be the next bubble to burst? Some early warnings suggest that it could be. Higher Education Page 4 With tuitions, fees, and room and board at dozens of colleges now reaching $50,000 a year, the ability to sustain private higher education for all but the very well-heeled is questionable. According to the National Center for Public Policy and Higher Education, over the past 25 years, average college tuition and fees have risen by 440 percent — more than four times the rate of inflation and almost twice the rate of medical care. Patrick M. Callan, the center’s president, has warned that low-income students will find college unaffordable. Meanwhile, the middle class, which has paid for higher education in the past mainly by taking out loans, may now be precluded from doing so as the private student-loan market has all but dried up. In addition, endowment cushions that allowed colleges to engage in steep tuition discounting are gone. Declines in housing valuations are making it difficult for families to rely on home-equity loans for college financing. Even when the equity is there, parents are reluctant to further leverage themselves into a future where job security is uncertain. Consumers who have questioned whether it is worth spending $1,000 a square foot for a home are now asking whether it is worth spending $1,000 a week to send their kids to college. There is a growing sense among the public that higher education might be overpriced and under-delivering.” Similarly, Richard Vedder, economist at Ohio University has more radical solutions to offer. He believes that the education system should make necessary changes where incentives are included in the salaries of university presidents. This will help in order to contain and reduce costs. It will also help in making college education more Higher Education Page 5 affordable. Another important suggestion coming from him is that the state policy makers should conduct cost –benefit studies to see the level of accomplishment achieved by universities that receive state support. Similarly, every university should also conduct regular surveys to map the demand and importance of the course offered by them. The universities should transparently conduct a labor market analyses which shows the demand for their programs. Only after the prospective students have read the results of labor market analysis, should they make a careful choice about their course and whether it is worth the effort to invest in it. Most of the students in America today, are dropping their studies after finishing high schools. The reasons for this could be plenty: Lack of financial resources Disillusionment in the job market Lack of access to high-priced colleges Lack of interest in studies Whatever the reasons might be, it is the job of state and central government to ensure that education is made far more accessible and productive than it currently is. There are a large number of universities which charge thousands of dollars but stress only on classroom teaching. Thus, their graduates are at a disadvantage in the job market as they lack the necessary on-the-job skills and practical training in their subject. Internships should be made a mandatory part of the curriculum. Higher Education Page 6 Similarly, a careful choice should be made regarding the course one wants to major in. The choice one makes can play a huge role in determining their level of success in their careers. Here is the result of a recent survey which revealed that: Associate’s degrees are worth going for. These two-year degrees result in huge paybacks as compared to their low cost of investment for a high school graduate. Similarly a bachelor’s degree obtained from any public university will pay off really well. However, the case is not same when it comes to pri8vate colleges. Some courses, such as liberal arts or social sciences, studied at master’s level should strictly be pursued for the love of it. They do not have much to offer in terms of financial returns. At the end of the day, professional degrees still rule the roost. This possibly also explains why individuals do not mind borrowing tons of money in order to pursue them as the returns is massive. Thus, it can be safely concluded that although a college degree does hold importance and definitely gives you an edge over a high school pass out, care should also be taken to ensure that the course and university selected is worth one’s effort, time and money. Also, it is the responsibility of the student to put in their best effort, try to get the best internships available if they want a well paying job at the end of the course. The trick is to make oneself indispensable for the market they wish to enter and the job offers will automatically chase them. Higher Education Page 7 References: “Will Higher Education Be the Next Bubble to Burst?“, Joseph Marr Cronin and Howard E. Horton, The Chronicle of Higher Education, 22 May 2009