Page 83 - Crisis in Higher Education

Underlying Problems • 57

6. Table 3.1 shows that private, for-profit universities have a four-year grad-
uation rate of 22.5%, which is abominable, and the six-year rate is only
slightly better at 31.9%. Something must be done to resolve this because
4
these institutions are taking advantage of students as well as govern-
ment programs that support higher education.
7. The raw data used to create Table 3.1 show that the trend in gradu-
ation rates from 1996 to 2007 has been upward across university
4
types. This is also true across gender and race. The reasons are not
clear, although state legislatures have put pressure on public uni-
versities to reduce dropout rates. Many have established an “Office
of Retention” to determine the reasons for dropping out and to find
solutions.

3.4 LOW JOB PLACEMENT RATES
Higher education seems to feel little responsibility for verifying that
enough jobs exist for the quantity of graduates being produced in some
fields of study. Most universities offer job placement services for gradu-
ates but that is only a search for existing jobs. What is needed is a “best
effort” from universities to align the number of graduates with the pool of
available jobs. Furthermore, there appears to be limited concern whether
salaries for entry-level positions are sufficient to (1) justify the investment
made by students, parents, and others or (2) repay student loans without
living in poverty. Applicants should have the right to make career choices,
but they need good information to make those decisions.
Newsweek claims that millennials are lagging in the workplace and are
often unemployed, underemployed, or working two jobs to make ends
meet. Millennials, typically age 20–36, will soon be the largest and best
educated generation in the United States, but many faced sky-high tuition
and now face staggering student debt. Citing Bureau of Labor Statistics
6
data, the Center for College Affordability and Productivity reports that
48% of employed university graduates in the United States hold jobs that
require less than a four-year degree. About 5 million graduates are in jobs
that require less than a high school degree. 5
The duty of the university, at a minimum, should be to provide histori-
cal data, current data, and projected data for job availability and salary.
This allows students to make informed decision about what major to select.