Phil's Personal Finance Tip of the Day:
College Not for Everyone: 4 Alternatives
Money 101
Published November 05, 2012
FOXBusiness
The persistently weak labor market and increasing student loan debt levels are making some high school graduates think twice about going to college.
The Bureau of Labor Statistics
reports that 25% of college graduates are currently in jobs that do not require a college degree and of the 30 jobs projected to grow at the fastest rate over the next decade in the U.S., only seven typically require a bachelor’s degree. In a sea of unemployed grads, a bachelor’s degree has become less attractive and has many students seeking out educational avenues without a hefty price tag, says Srikant Vasan, founder and president of Portmont College at Mount St. Mary’s
.“The return on investment in college education clearly goes down as the return decreases with the decreasing probability of finding employment, especially employment at higher salaries, and investment increases with the rising costs of college…. students should check out alternatives to college degrees,” he says.
With that said, the unemployment rate among college graduates is significantly lower than those without one. According to the Labor Department, the unemployment rate among college graduates stood at 3.8% while the rate among those with a high school diploma was 8.4% last month.
Read more: http://www.foxbusiness.com/personal-finance/2012/11/05/colleges-not-for-everyone-4-alternatives/?link=mktw#ixzz2BdzksReH
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