For 44% of recent college graduates, it might not be.
College enrollment has increased steadily since the Department of Education began keeping statistics in the 1940’s. From 2.3 million enrollees in 1947, postsecondary education enrollment now tops 20 million.
However, the New York Federal Reserve reports that a full one-third of college graduates work in a job that does not require a college degree, including 44% of college graduates aged 22-27. This is a clear indicator that college is not adequately preparing students for the workforce, especially under favorable labor market conditions in which employers routinely complain that they can’t fill open positions.
If students aren’t securing jobs that require a postsecondary education while simultaneously graduating with mounds of debt, why would it make sense to spend the time and money to get a degree?