Since the United States federal government got itself involved in post-secondary education and subsidizing tuition rates through the means of student loans, the cost of seeking higher education has soared. Due to artificial pricing because of Republican and Democratic politicians, graduates are leaving school with increased debt loads and worthless pieces of papers known as degrees.
According to the New York Federal Reserve and Bureau of Economic Analysis, cumulative student loan growth has skyrocketed more than 500 percent. It has also been reported each quarter for the past year or so of how the student loan debt and delinquency rates are higher than credit card debt, automobile loans and other forms of non-mortgage debt.
In fact, CourseSmart.com published an interesting infographic that looks at how college tuition has risen 1,120 percent since 1978. This is higher than the rise in medical care (600 percent), housing (375 percent) and food (220 percent) costs.
Despite the good intentions of bureaucrats to provide everyone with the opportunity to acquire an education, there are quite a few unintended consequences: debts that will be burden for perhaps a graduate’s entire life, a worthless diploma, a misallocation of skills in the overall economy in favor of a liberal arts education and the potential impact on the taxpayers who might have to cover the cost of these loans.
Unfortunately for many college students, they’re missing out on terrific opportunities because some of the occupations that are high in demand are frowned upon by society, such as careers as a plumber, electrician, receptionist or even a paralegal assistant. Instead, students are encouraged throughout their entire lives by their parents and teachers to become doctors, lawyers and even teachers (nice pension, two months off each year, etc.).
Look at it this way, if 10,000 students seek a degree in art history and there are only 2,000 positions available in such a field then those 8,000 students will have wasted huge sums of money and will have lost out on the opportunity to gain the necessary skills for other forms of employment.
What’s also interesting is that CareerCast.com, which provided the list below, listed 20 jobs that do not require a four-year college degree. Some of these jobs include being a dental hygienist, stenographer/court reporter, surveyor, insurance agent and others. Instead of being $25,000 in debt for many years to come, these positions provide average annual incomes of around $50,000, but of course they’re not in higher standing as a lawyer.
Much of the work listed below is consistent and respectable that will always be around. Although vocational training and skilled-trade education have been promoted for the last few years, especially at the height of the economic collapse in 2007 and 2008, students are still shunning these lines of work in order to pursue their “dream jobs.”
For blue-collar work, jobs like plumbing, electrician and pest control can provide the chance to be your own boss, establish your own schedule and the opportunity to make a very good salary. All you have to do is perform a quick Google search of the numerous success stories in these fields and you’ll soon realize that these jobs are more than what has been depicted in the media, in schools and at home.
In regards to white-collar work, such as positions in web development, administration and bookkeeping, they also place a significant role in the overall economy without having to perform backbreaking labor. For instance, administrative duties are needed in small-, medium- and large-sized businesses all over the world. Although it has grown to be competitive over the past few years, completing administrative functions can also lead to other titles within the firm.
The Bureau of Labor Statistics (BLS) noted in its analysis of the increase in jobs for the next several years. What this means is that there is a still a window of opportunity for children in high school right now to seek these endeavors. It also confirms that a family doesn’t have to get a second mortgage, obtain a second job or hawk jewelry to send their child through school. A student doesn’t also have to be indebted to the federal and state governments or financial institutions for decades to come.
Is a college degree the most overrated product in the United States?
Here are the 14 jobs that will thrive in the economic collapse and don’t require a college degree:
1. Web Developer | Median Salary: $75,660 | Projected Increase In Jobs Through 2020 (BLS): +22%
2. Communications Equipment Mechanic | Median Salary: $54,710 | Projected Increase In Jobs Through 2020 (BLS): +15%
3. Electrician | Median Salary: $48,250 | Projected Increase In Jobs Through 2020 (BLS): +23%
4. Paralegal Assistant | Median Salary: $46,680 | Projected Increase In Jobs Through 2020 (BLS): +18%
5. Plumber | Median Salary: $46,660 | Projected Increase In Jobs Through 2020 (BLS): +26%
6. Industrial Machine Repairer | Median Salary: $44,160 | Projected Increase In Jobs Through 2020 (BLS): +19%
7. Glazier | Median Salary: $36,640 | Projected Increase In Jobs Through 2020 (BLS): +42%
8. Automobile Body Repairer | Median Salary: $34,660 | Projected Increase In Jobs Through 2020 (BLS): +17%
9. Administrative/Executive Assistant | Median Salary: $34,660 | Projected Increase In Jobs Through 2020 (BLS): +12%
10. Bookkeeper | Median Salary: $34,040 | Projected Increase In Jobs Through 2020 (BLS): +14%
11. Pest Control Worker | Median Salary: $30,340 | Projected Increase In Jobs Through 2020 (BLS): +24%
12. Skin Care Specialist | Median Salary: $28,920 | Projected Increase In Jobs Through 2020 (BLS): +25%
13. Receptionist | Median Salary: $ 25,240 | Projected Increase In Jobs Through 2020 (BLS): +24%
14. Hair Stylist | Median Salary: $22,500 | Projected Increase In Jobs Through 2020 (BLS): +14%