3/1/2010: Most of what I’ve seen on this (e.g. the Frohnmayer report) simply assumes they should, reporting clearly misleading numbers like the fact that college graduates earn more. (The average effect, not the marginal. Because they go to college, or because they are smart enough to go to college? Doesn’t it matter what they major in?) Here’s a debate on the subject, sponsored by UVA’s Miller Center. One factoid:
Today, just under 40% of Americans 25 to 34 years of age hold a two- or four-year degree. While this number has remained stable for decades, other developed countries have seen a steady increase in their number of college graduates in recent years. America is somewhere in the middle of this group, on par with countries like Australia and Spain. Meanwhile, countries such as South Korea (53%), Japan (54%), and Canada (55%) have pulled considerably ahead of the pack.
Fewer and fewer Americans seem to be attending colleges these days. Whilst this could be down to the increase in college fees and the cost of living, it could also be that college marketing isn’t being done correctly. It’s important to remember that colleges are trying to attract a completely different generation of students. These students have been raised with the internet, meaning that marketing should probably be aimed at potential students through forms of social media. By reading more about it here, universities can look at effectively advertising to the generation. This is a much more impactful way of marketing as more people are likely to see it too, meaning that college numbers could be directly impacted by an online marketing campaign from universities.
However, this is only one potential reason. Another reason could be that more American teenagers prefer having a job to continue their studying. With the ever-increasing price of living, people need money to survive, so it’s not that surprising that people are making the decision to start earning instead.
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