by Scott Braddock on Mon, 07/09/2012 - 10:53am 2 comments
We’ve written about it quite a bit here on Construction Citizen, and the New York Times recently delved into how young people are able to rack up six-figure student loan debt. Now, a new book by Glenn Harlan Reynolds argues that the “Higher Education Bubble” is a potentially worse crisis than even the housing bubble that cratered the economy when it burst in 2008.
I just watched this video in which Reynolds explains the problems young people – and the economy in general – are presented with because of the “college-for-all” crusade. Reynolds points out that “Six figure student loan debt is fast becoming the norm,” and that the skilled trades may be a better path for many people.
“Seven of the ten fastest growing jobs in the next decade will be based on on-the-job-training rather than higher education,” Reynolds says. Those are jobs that require the person to physically be in the area where the product or service is purchased. For example: if your toilet needs repair, that can’t be done by someone in India.
Check out the video and let us know what you think in the comments.