5) On Higher Education (5 of 5)
5) On Higher Education (5 of 5)
The Question: “The average American college student has around $29,000 in debt when they graduate. The unemployment rate for 20 to 24 year olds is 9.4% compared to only 4% for elders. How will you lower the cost of education and increase the value of postsecondary education, as well as training for the millennial generation?”
It has been estimated that by the year 2020 around 65% of jobs will require a college degree or some form of training after finishing high school. To compound matters tuition has grown faster than inflation for decades and has now become a barrier for lower to middle income families. Recent graduates in high-demand fields will find work straightway, but the rest struggle to find jobs that pay them enough to repay their debt and make ends meet.
The education sector and government employers have to come out with an innovative way to educate more Americans and teach them skills that will land them good jobs, without riddling them with excessive debt after they graduate.