If you do not have a copy of the book, The College Dilemma, be sure to pick one up here!
Infographics will be posted here soon.
In the meantime, Statistical Excerpts from The College Dilemma: The Lies We Tell Our Children and the Truth We Hide
Job Placement:
- 38% of graduates receive a first job out of school that would not even require a degree, and 73% receive a job that is not a match to their college major.
- Even at the best colleges with the highest placement rates, 16% of graduates remain jobless 6 months after graduation.
- According to the Bureau of Labor Statistics, forecasted careers: Only 10% of the top 30 forecasted career demands are for Bachelor degree recipients. But none are for non-STEM Bachelor degree fields.
- The difference in unemployment rates between those with a Bachelor’s degree and those with an Associate’s degree averages less than ½ of a percent.
- In many non-STEM fields, job placement rates out of college are well under 30%.
Salaries:
- More than 17% of humanities graduates will fail to see $15,600 per year in their primary job out of school.
- Of the students who actually receive employment, 49% of college graduates are making less than $40,000, and half of those college graduates are making less than $27,000 a year.
- College students are more likely to find themselves in the $20,000’s a year after graduation than they are to find themselves with salaries above $60,000
- Over the last five years, those with less than a high school degree saw 6.6% wage growth. High school graduates saw 3.7% growth, while Bachelor’s degree graduates saw a growth of only 2.8%.
- About half of college students earn nothing or nearly nothing as they are unemployed out of school.
Graduation:
- In just 10 years, Bachelor’s degree attainment rates for college-aged individuals has increased a whopping 21.2%, from 28.8% of the population to 34.9% of the population.
- 41% of college students don’t even complete their degree at all.
- At for profit institutions, the graduation rate within six years was less than 25%, while the graduation rate rises to only 59% across all colleges. In other words, 41% of those who enroll in college will drop out.
- 75% of students change their major before graduation.
- Only 19 percent of full-time students finish that “4 year degree” in 4 years at public universities.
- Only 32% of graduates at an open-admission college graduate in 6 years,
while 88% of those at a highly competitive college graduate in 6 years. - The fastest-growing collegiate fields of study are Arts, Humanities, and “others”, which has increased 18.3% over the last 15 years despite these fields having the highest unemployment rates out of college at over 70%.
Loans:
- Over 25% of students default on their loans, and nearly 40% of borrowers are expected to default by 2023. (According to research by Judith Scott-Clayton, Associate Professor of Economics and Education at Teachers College, Columbia University. “The looming student loan default crisis is worse than we thought”, published in Evidence Speaks Vol 2, #34 on January 10, 2018)
- It takes an average of 21 years to pay off a student’s loans.
- Those who borrow more for college actually end up getting paid much less. Those with loans over $59k are twice as likely to receive extremely low incomes than high incomes, while those with less than $17k in loans are more likely to receive high incomes than low incomes!
- 30.6% of students spend loan money on spring break trips, while others use loan money for alcohol, clothes, and even drugs.
Learn more by picking up a copy of The College Dilemma: The Lies We Tell Our Children and the Truth We Hide .