Is a Four-year College Degree Really the Best Plan in Today's America?

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Millennials are burdened with student loans they can’t repay, college degrees that don’t get them jobs, and no clear path forward. Is a four year college degree really the best plan for America’s high school graduates today? The former host of Dirty Jobs, Mike Rowe thinks not. He has started the Mike Rowe Works Foundation to “make work cool again.” Here’s a little about what Rowe is doing:

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America has become slowly but undeniably disconnected from the most fundamental elements of civilization—food, energy, education, and the very nature of work itself.

Over the last 30 years, America has convinced itself that the best path for the most people is an expensive, four-year degree. Pop culture has glorified the “corner office job” while unintentionally belittling the jobs that helped build the corner office. As a result, our society has devalued any other path to success and happiness. Community colleges, trade schools, and apprenticeship programs are labeled as “alternative.” Millions of well-intended parents and guidance counselors see apprenticeships and on-the-job training opportunities as “vocational consolation prizes,” best suited for those not cut out for the brass ring: a four-year degree. The push for higher education has coincided with the removal of vocational arts from high schools nationwide. And the effects of this one-two punch have laid the foundation for a widening skills gap and massive student loan debt.

Today, the skills gap is wider than it’s ever been. The cost of college tuition has soared faster than the cost of food, energy, real estate, and health care. Student loan debt is the second highest consumer debt category in the United States with more than 44 million borrowers who collectively owe more than $1.5 trillion. According to the Bureau of Labor Statistics, there are more than 7 million jobs available across the country, the majority of which don’t require a four-year degree. And still, we talk about millions of “shovel ready” jobs for a society that doesn’t encourage people to pick up a shovel. We keep lending money we don’t have to people who can’t pay it back for jobs that don’t exist. Bit by bit, our culture reaffirms the misguided belief that a career in the skilled trades shouldn’t be desired. And that lack of enthusiasm has reshaped our expectations of a “good job” into something that no longer resembles work.

How do we change the prevailing misperception of skilled labor?

We’re on a mission to help close the skills gap by challenging the stigmas and stereotypes that discourage people from pursuing the millions of available jobs. We’re redefining the definition of a good education and a good job, because we don’t think a four-year degree is the best path for the most people. We want people to understand the impact of skilled labor on their lives, and we’re convinced that the solution has to start with a new appreciation for hard work.

Each year, we give away a modest pile of money through the Work Ethic Scholarship Program to help people get trained for skilled jobs that are in demand. We’ve proven that opportunities in the trades aren’t alternatives to viable careers – they are viable careers. Through this program, we encourage people to learn a useful skill, and we reward those who demonstrate that they’ll work their butts off. When it comes to hard work, there is no alternative. Since our inception, we’ve granted, or helped facilitate the granting of, more than $5 million in Work Ethic scholarships and other like-minded programs or initiatives that also work to close the skills gap.

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.