The following was inspired by a segment I watched on CNN.
It is said that to prepare for the future, you must analyze the past, make necessary corrections, and build up on the present. However, when referring to the current education situation in America, that may not always be the case. American students in the 21st century are living in a completely different world than their parents or the previous generation. Global competition is fierce and with the American job market in peril, students are having to rethink their educational strategy; hence, must find new approaches rather than rely on looking at the past for a solution. They must think “out of the box” and not the typical “cookie cutter” mentality.
Currently in United States, the price of college tuition is increasing dramatically. In the past thirty years the price of tuition has escalated four fold! For the first time, student loan debt ($865 Billion) has topped credit card debt ($693 Billion). Students are aware that a college degree is crucial for getting a job and to participate in today’s global economy, but not every degree is going to fetch a job. In order to compete domestically and internationally students must focus on STEM (Science, Technology, Engineering, Math). But, this comes at a hefty price; thus, priority for saving money changes. Some parents are left with a dilemma of whether to save for their retirements with the increasing healthcare costs or to save for their child’s education. As another result of the inflated tuition costs, students are forced to delay their “social clock” (i.e getting married, having kids, buying a home, etc.) to pay off student loans.
What is clear, is that a serious education reformation is needed and the price of college tuition must be substantially brought down, or else America will fall into a never ending economic death spiral.