Latest Federal Data Confirm: College NOT Road to Prosperity
College educated people do have higher incomes and lower unemployment rates, on average, than those who have not been to college. However, the goal of achieving prosperity by obtaining a college education is becoming less attainable and secure than ever before, primarily because of staggering levels of student debt and a stagnant labor market offering mostly low wage jobs in the service sector, but also because of growing competition for limited space on college campuses.
“A college diploma no longer guarantees a direct pathway to the middle class, making it harder to justify the expense of a degree,” National Center for Education Statistics (NCES) Commissioner Jack Buckley told Diverse Education. Student loan debt is the only type of loan debt that has increased since the recession started. In 2012, total student loan debt reached