This post was originally published on Defender Network
By Laura Onyeneho
Bidemi Foloronso was a 2023 graduate of Southwest Minnesota State University with a degree in biology. As an international student from Nigeria, her goal was to one day wear a white coat as a medical doctor. Little did she know that post-graduation would lead her down an unexpected path that opened her eyes to the reality that graduating college students face after completing their degrees.
“I’m trying to push a career in nursing right now. Honestly, I need to position myself in a field that will pay me well eventually,” she said. “Having no job after graduation was an eye-opener for me.”
She was prepared for her switch to nursing because her degree fulfilled the core coursework needed to pursue nursing. Still, the financial burden of attending school, the uncertain job market, and her immigration status overshadowed the euphoria of completing a degree.
“I learned a lot in school, but they didn’t prepare me for the real world. Because of my status, I pay everything out of pocket, and after you graduate, if you don’t find a job before your visa expires, you’ll have to go back home,” she said. “Once these employers find out your status, they most likely will put you at the end of the job application pile because of how expensive it is to hire someone like me.”
Her thoughts about the U.S. higher education system were simple. Depending on the area you pursue, pursuing a bachelor’s degree isn’t going to position you for the “dream job” but rather a “test of discipline.”
“College is just another way to prove to employers that you can dedicate years of working on deadlines and following directions because that’s what you’ll be doing when you get a job,” she said. “I’d rather have my money back if that was the case. There are so many people in careers who didn’t graduate and are making lots of money.”
In the past, obtaining a bachelor’s degree was the most crucial step toward raising one’s wealth and income. It’s common knowledge that a college degree virtually ensures entry into the middle class and raises living standards for the following generations.
According to a new study from The Burning Glass Institute and the Strada Institute for the Future of Work, Over 50% of college graduates in the United States work in positions that neither require a bachelor’s degree nor use the skills they gained to get one. Even worse, they can end up staying there their whole professional lives.
Also, many high school students are reconsidering the worth of a bachelor’s degree because it’s increasingly unaffordable because of this, nearly half of companies in the U.S. plan to remove bachelor’s degrees from some job requirements.
“Due to the expense of attending college, earning a bachelor’s degree is generally more difficult for people from traditionally marginalized groups and those from lower socioeconomic backgrounds,” Diane Gayeski, higher education advisor for Intelligent.com and professor of strategic communication at Ithaca College, said in a statement.
The survey indicated that even ten years after graduating from college, many college graduates are still unemployed. This could be the case since companies looking for college graduates also favor candidates with recent work experience, giving greater weight to the most recent positions held by individuals with years of work experience than to a degree from 10 years ago.
Jasmine Adams, a proud graduate of Houston Christian University in 2016 with a degree in early elementary education, said she is happy with where she is in her career as an educator at Aldine ISD.
“In school, I learned the best practices of teaching a child, the psychology of the child, and how to care for children of special needs,” she said. “I got hands-on experience in the field to prepare me for what I’m doing now, so I did what I needed from my degree.”
Unfortunately, the costs of attending a private institution still impact her today. Adams has about $10,000 remaining on student loan payments and felt she could have gone “the cheaper route.”
“I came in with dual enrollment credit and still had to pay a lot of money to attend college,” she said. “I don’t regret it though. I’ve made some great friendships and had a good experience.”
Wage Inequities Persist
According to NAACP research, Black college and university graduates make 15% less money on average than their white counterparts and are more likely to be underemployed. According to The Institute for College Access and Success, nearly 40% of Black graduates fail on their student loans within 12 years, compared to 12% of white graduates.
According to Federal Reserve data, Black households make almost half as much as White households on average, and White families have eight times the median wealth of Black families ($24,100 vs. $188,200), a difference that has been growing.
Education was expected to act as a leveler to close these inequities. Once You get employment, you can support your family and yourself. The results, however, don’t support that. Because of this economic inequality, Black people are much more likely to have to take on more debt when they attend college. To pursue a bachelor’s degree, 86% must borrow money. The Brookings Institution reports that after graduation, black students owe almost half as much as white grads.
College is Not the Only Option
Even while having a college degree is sometimes praised as the best route to more income and financial security, going to college is not always the best option.
Numerous factors affect a degree’s worth, including the subject of study. High expenses, mainly if students must take out loans, may also offset that. All of the costs associated with attending school, including accommodation and board, are rising steadily and at a rate that is far faster than inflation.
Lacking awareness of the financial advantages and employment benefits can pose a significant obstacle for students who have shouldered the substantial financial expenses of acquiring a degree. Even for those who eventually experience increased earnings post-graduation, the substantial initial costs of education can result in a prolonged financial burden—many individuals with student loan debt require up to two decades to fully repay.
However, a positive step towards addressing this issue is mandating publicly funded colleges and universities to disclose completion rates, average wages based on the degree earned, and average student debt, ensuring that prospective students are adequately informed before enrollment.
Compared to majors with coursework that directly relates to jobs, like engineering and business, students graduating with liberal arts degrees may find it more difficult to get employment.
There are options outside of higher education. A college degree is only sometimes required for high-paying employment. For instance, the Bureau of Labor Statistics predicts that by 2030, the industry with the most significant increase in employment will be health and social support. Many careers don’t require a college degree, even though some require further education, such as a certification.
Here is a list of alternative pathways to consider if college isn’t right for you.
-Attend a vocational or technical school
-Use your skills to launch a business
-Complete a certificate program
-Get an associate degree
-Attend college online instead of attending a brick-and-mortar location
-Apply for an apprenticeship or a Bootcamp
-Take a gap year to Join AmeriCorps, Teach for America, Peace Corps